Parliament s proposed roadmap for the introduction of new own resources

Parliament’s Committee on Budgets (BUDG) fast-tracked its work on the proposal, enabling Parliament to adopt its legislative opinion on the reform in plenary on 16 September 2020. This enables the Council to adopt the own resources decision that translates the European Council’s deal on the revenue side of the EU budget into a legal text, and thus ensure the timely launch of NGEU. Reaffirming the points made in the July 2020 resolution, the BUDG report stresses that new own resources must be introduced, and finance at least the entire repayment costs of the recovery instrument. It details a roadmap for the legally binding calendar that Parliament intends to negotiate on the introduction of five new own resources in addition to the already agreed plastics contribution. Linked to EU policies on climate and the single market, the envisaged resources would be based on the ETS, a carbon border adjustment mechanism, a digital levy, a Financial Transaction Tax, and a CCCTB