Wednesday, 25 April 2012

European Commission wants to increase the EU budget by almost 7% to €138bn

This morning the European Commission will present it's plans for the next European Union budget. It's understood that among the plans will be an almost 7% increase in spending bring the budget up to €138bn

The commission is expected to push for a budget of €138bn, a 6.8% increase on this year's spend.
All 27 European Commissioners will gather this morning for their weekly meeting before signing off on the budget for next year.
The likely 6.8% increase in spending is likely to draw a backlash since most national governments have been told by Brussels to cut spending.
However, the commission will insist that the increase in the size of the EU budget is to cover commitments for spending on EU projects which have already been made.
Another commission argument is that money spent effectively at a European level can actually save governments money at national level.
The final budget will have to be approved by the European Parliament, which usually calls for the maximum spend, and by member states.
In a parallel process, negotiations are underway for the EU's global budget which will run from 2014 to 2020.
The big issue for Ireland is that the Common Agriculture Policy will continue to be supported and will not be radically cut at the expense of an increase in spending on research and development over the next eight years.

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