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EU Financing / Budgetary Affairs, PUBLICATIONS

Own resources of the European Union: Reforming the EU’s financing system [EU Legislation in Progress]

Written by Alessandro D’Alfonso (3rd edition, updated on 12.2.2021),

Euro, EUR, Geld, Währung, Triple A, AAA, Schwäche, Abwertung, abwerten, Europäische Union, EU, Prime, Ratingcode, Buchstabe, Rating, Ratingagentur, Bonität, Kreditwürdigkeit, Bewertung, Einschätzung, Risiko, Analsye, Analysten, Moodys, Standard and Poors, Fitch Rating, Creditreform Rating, Euler Hermes Rating, triple, dreifach, Hamburg, Februar 2017

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On 14 December 2020, the Council adopted the decision that reforms the financing system of the EU budget, in the context of a package including the new multiannual financial framework (MFF) and the Next Generation EU (NGEU) recovery instrument. The agreed increase in the maximum level of resources that can be called from Member States is a pre-condition for NGEU borrowing operations. Ratification by all Member States is now required before the decision can enter into force, with retroactive application from 1 January 2021. Six Member States have ratified the decision as of 12 February 2021. Parliament fast-tracked its legislative opinion, adopted in September 2020, to enable the Council to ensure the timely launch of NGEU. In the broader negotiations on EU finances, Parliament pushed for a proper reform of the financing system underlining that the introduction of a basket of new own resources should cover at least the repayment costs of NGEU (for both principal and interest). Deeming the new plastics contribution a first partial step in this direction, Parliament managed to include a detailed roadmap for the introduction of various additional new own resources by 2026 in the interinstitutional agreement on budgetary matters with the Council and the European Commission. Envisaged resources are linked to EU policies on climate and the single market.

Versions

Proposal for a Council decision on the system of own resources of the European Union
Proposals for Council regulations (1) laying down implementing measures for the system of own resources of the European Union; (2) on the methods and procedure for making available the own resources…; and (3) amending Regulation (EEC, Euratom) No 1553/89 on the definitive uniform arrangements for the collection of own resources accruing from value added tax
Committee responsible: Budgets (BUDG) COM(2018) 325, 326, 327, 328 and COM(2020)445 final
Rapporteur: José Manuel Fernandes (EPP, Portugal) and Valérie Hayer (Renew, France) 2.5.2018 and 28.5.2020
Shadow rapporteurs:

 

Elisabetta Gualmini (S&D, Italy)
Hélène Laporte (ID, France)
David Cormand (Greens/EFA, France)
Roberts Zīle (ECR, Latvia)
Younous Omarjee (GUE/NGL, France)
Dimitrios Papadimoulis (GUE/NGL, Greece)
2018/0135(CNS)
2018/0132(APP)
2018/0131(NLE)
2018/0133(NLE)
Consultation procedure (CNS)
Next steps expected: National ratification
Decision (EU, Euratom) 2020/2053
OJ L 424, 15.12.2020, pp. 1–10


 

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