The EU multiannual financial framework (MFF) ensures for periods of 7 years each the financing of common programmes in all policy areas in Europe ranging from agriculture to research, from regional policy to foreign aid. With Brexit looming, the EU has to face a funding gap of around 15 billion euros per year for the next budgetary period 2021-2027. At the same time, it has to tackle new challenges such as migration, security and defence, the digital transition and climate change. Many Member States have already rejected both expenditure increase and cuts in agricultural and regional funds, as well as new criteria for the allocation of money linked to rule of law and refugees.
EU BUDGET
A new framework for funding the future of Europe
EU waiting for ‘concrete steps’ from Italy
Italy's leaders have largely stuck to a big-spending budget that they say will produce a deficit of 2.4 per cent in 2019.
Germany, France ‘in fresh push for EU financial transaction tax’
Germany and France will reportedly seek to revive the long-delayed EU financial transaction tax by proposing that member states be allowed to use the revenues to reduce their EU budget contributions.
Brussels rejects Italy budget, paves way for sanctions
Brussels has officially rejected Italy's big-spending budget, clearing the path for unprecedented sanctions and deepening a bitter row with Rome's populist government.
European Commission ups the ante against Italy in budget row
The European Commission has rejected Italy's 2019 spending plan for contravening EU fiscal rules.
EU negotiators make last-ditch try to seal 2019 budget
The budget covers everything from agricultural subsidies and support for poorer regions to research and education programmes.
Negotiators meet to finalize EU’s 2019 budget
European finance ministers set to meet in hopes of finalizing the EU's 2019 budget.