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.
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.
7 days ago
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.
3 weeks ago
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