Econostrum | Economic News in the Mediterranean



MEPs want 2021 budget to focus on supporting sustainable recovery

The European Parliament will vote on the 2021 budget in December 2020 (photo: F.Dubessy)
The European Parliament will vote on the 2021 budget in December 2020 (photo: F.Dubessy)
EU. According to the MEPs' draft resolution resulting from the vote on 15 October 2020, the next EU budget will be based on approximately €182 billion in commitment appropriations (€181 684 729 002 to be precise), i.e. an increase of €14.93 billion compared with the European Commission's proposal. This complement will benefit the EU's 15 flagship programmes. By 2021, MEPs want to reach a level of spending of 10% for biodiversity and 30% for the integration of climate issues.

The 2021 budget, the first of the multi-annual financial framework (MFF) 2021-2027, will focus on mitigating the effects of the pandemic and supporting recovery, building on the green pact and digital transformation to "promote fair, inclusive and sustainable growth, the creation of high-quality jobs and the much hoped-for goal of socio-economic convergence", say MEPs in their resolution. Prepared by the general rapporteur for the Commission's budget, Frenchman Pierre Larrouturou, and the rapporteur for the administrative budget of the other institutions, Belgian Olivier Chastel, the text was adopted by thirty-five votes in favour, two against and four abstentions.

The resolution and the budgetary amendments will now be debated and voted on during the plenary session of 11 and 12 November 2020. Negotiations will then take place over three weeks with the European Council in order to reach an agreement with the Parliament so that the 2021 budget can be presented to MEPs and adopted in December 2020. The first meeting between the two institutions is scheduled for 19 November 2020.

As the European Parliament states in a press release, "The EU budget is unique. Unlike national budgets, which are mostly used to provide public services and finance social security systems, the EU budget is mainly an investment budget and, unlike national budgets, it cannot go into deficit".

Frédéric Dubessy

Thursday, October 29th 2020

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