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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 (2nd edition, updated on 7.10.2020),

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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In July 2020, the European Council reached political agreement on the reform of the own resources system that finances 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. The Council’s adoption of the own resources decision, translating the deal on the revenue side of the EU budget into a legal text, must be preceded by Parliament’s legislative opinion and followed by the ratification of the decision by all Member States. Parliament fast-tracked its legislative opinion, adopted in September 2020, to enable the Council to ensure the timely launch of NGEU. Parliament has repeatedly stressed that it will not give its consent to the MFF without proper reform of the financing system, and negotiations continue on the rest of the package. Notably, Parliament underlines that the introduction of a basket of new own resources should cover at least the repayment costs of NGEU. Deeming the new plastics contribution a first partial step in this direction, Parliament intends to negotiate a legally binding calendar on the introduction of five additional new own resources, 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: Adoption by Council


 

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