Interview with Josep BORRELL FONTELLES, EP President 2004 - 2007

The story of the EP by its Presidents: Josep BORRELL FONTELLES, EP President 2004 - 2007 - 10. EU own ressources

The EU’s 2021-2027 long-term budget, together with NextGenerationEU, amounts to €1.8 trillion. This unprecedented response will help repair the economic and social damage caused by the coronavirus pandemic and aid the transition towards a modern, more sustainable Europe.

The package consists of the long-term budget (the 2021-2027 MFF multiannual financial framework) of €1.074 trillion, combined with the temporary recovery instrument NextGenerationEU of €750 billion.

It was adopted by the European Parliament on 16 December 2020.

MEPs negotiated major top-ups for EU flagship programmes like Health, Horizon (Research), Erasmus+ and supported also a roadmap introducing new sources of EU revenue. This roadmap is part of the ‘Interinstitutional Agreement’, a legally binding text. In addition to the contribution made as of 2021, based on how much unrecycled plastic a country has, the roadmap includes an ETS (Emissions Trading System)-based Own Resource (from 2023, possibly linked with a carbon border adjustment mechanism). It also includes a digital levy (from 2023) and a Financial Transaction Tax-based Own Resource, as well as a financial contribution that the corporate sector must make or a new common corporate tax base (from 2026).

Parliament also approved in its February 2024 session, the revision of the EU’s long-term budget.

This includes the €50 billion Ukraine Facility and the “Strategic Technologies for Europe Platform” (STEP), which aims to make the EU more strategically independent and to foster innovation. It also enables the EU budget to respond more effectively to evolving needs and unforeseen circumstances. In particular, it bolsters the EU’s budget to deal with migration and external challenges as well as the EU's crisis preparedness and budgetary flexibility. In line with Parliament’s demands, the revision introduces a mechanism to tackle escalating costs linked to the repayment of the NextGenerationEU recovery plan amid rising interest rates.

EU Multiannual Financial Framework 2021-2027

This package contains the events between 1st July 2019 and 31 December 2020. For latest events, see related links.

There have been five multiannual financial frameworks (MFFs) to date. The Treaty of Lisbon transformed the MFF from an interinstitutional agreement into a legally binding act. Established for a period of at least five years, an MFF must ensure that the Union’s expenditure develops in an orderly manner and within the limits of its own resources, and sets out provisions with which the annual budget of the Union must comply, thus laying the cornerstone of financial discipline.

After almost five days of negotiations, the European Council finally reached a political agreement on the Multiannual Financial Framework (MFF) for 2021 to 2027 and a specific recovery instrument following the coronavirus crisis – Next Generation EU (NGEU) – together totalling €1 824.3 billion. Before the MFF can enter into force, the Parliament must give its consent, which is also a pre-condition for the adoption, by co-decision, of legislation on the new policy programmes.

EU Multiannual Financial Framework 2021-2027 and recovery plan (2019-2020)

EP Plenary session - Threats to EU sovereignty through strategic dependencies in communication infrastructure

Meeting of the EP Conference of Presidents:- arrival and roundtable

EP Plenary session - Conclusions of the extraordinary European Council meeting of 23 April 2020 and New MFF, own resources and Recovery plan

Plenary session - MFF and own resources post-2020

EP Press conference.Vote on BUDG position on EU's next long-term budget post-2020 (MFF) and Own Resources reform

BUDG committee - Vote on the next MFF : Preparing the Parliament’s position on the MFF post-2020.Vote on the reform of the European Union’s system of own resources

Johan VAN OVERTVELDT (ECR, BE), Chair of the BUDG Committee, José Manuel FERNANDES (EPP, PT) and Valérie HAYER (Renew, FR), co-rapporteurs, hold a press conference on EU budget in Strasbourg.This transcription is a result of an automatic process. Please check against delivery.

Press conference by Johan VAN OVERTVELDT (ECR, BE), Chair of the BUDG Committee, José Manuel FERNANDES (EPP, PT) and Valérie HAYER (Renew, FR), co-rapporteurs on EU budget: Repaying the recovery plan, new "Own Resources"

EPRS identifies and frames some of the top key issues that might feature prominently in public debate and on the political agenda of the European Union this year. In times of crises and war, what are the challenges we must face and choices we have to make? Restrictions: ©The material may not be edited and must be shown entirely.

EPRS - Budgeting in times of crises and war

The EP press service organises a seminar for media on the Fit for 55 package, with Environment Committee Chair Pascal Canfin and MEPs in charge of the legislative files. Emissions, taxonomy, energy dependency and the impact of the war are among the topics discussed.

Fit for 55 - Where are we now? - Press seminar: extracts from the opening statement by Pascal CANFIN (Renew, FR), ENVI Committee Chair and the meeting

During the plenary session (7-10 June 2021) in the European Parliament in Strasbourg, MEPs debate on the state of play of the implementation of the Own Resources roadmap. The current three main sources of revenue for the 2021-2027 EU budget are customs duties, contributions based on the Value Added Tax (VAT) collected by Member States, and direct contributions by EU countries, also known as Gross National Income-based contributions. As of 1 January 2021, a new revenue source to the EU budget is a contribution based on the non-recycled plastic packaging waste.

State of play of the implementation of the Own Resources roadmap: continuation of the MEPs debate

During the plenary session (7-10 June 2021) in the European Parliament in Strasbourg, MEPs debate on the state of play of the implementation of the Own Resources roadmap: closing statement by Johannes HAHN, European Commissioner for Budget and Administration. The current three main sources of revenue for the 2021-2027 EU budget are customs duties, contributions based on the Value Added Tax (VAT) collected by Member States, and direct contributions by EU countries, also known as Gross National Income-based contributions. As of 1 January 2021, a new revenue source to the EU budget is a contribution based on the non-recycled plastic packaging waste.

State of play of the implementation of the Own Resources roadmap: closing statement by Johannes HAHN, European Commissioner for Budget and Administration

During the plenary session (7-10 June 2021) in the European Parliament in Strasbourg, MEPs debate on the state of play of the implementation of the Own Resources roadmap: opening statement by Johannes HAHN, European Commissioner for Budget and Administration. The current three main sources of revenue for the 2021-2027 EU budget are customs duties, contributions based on the Value Added Tax (VAT) collected by Member States, and direct contributions by EU countries, also known as Gross National Income-based contributions. As of 1 January 2021, a new revenue source to the EU budget is a contribution based on the non-recycled plastic packaging waste. This transcription speech is the result of an automatic process. Check against delivery.

State of play of the implementation of the Own Resources roadmap: opening statement by Johannes HAHN, European Commissioner for Budget and Administration

State of play of the implementation of the Own Resources roadmap: MEPs debate

During the plenary session (24-25 March 2021) in the European Parliament in Brussels, MEPs discuss on the Reform of EU Own Resources: opening statements by José Manuel FERNANDES (EPP, PT) and Valérie HAYER (Renew, FR), rapporteurs and by Johannes HAHN, European Commissioner for Budget and Administration. This transcription speech is the result of an automatic process. Check against delivery.

Joint debate on the Reform of EU Own Resources: opening statements by José Manuel FERNANDES (EPP, PT) and Valérie HAYER (Renew, FR), rapporteurs, and by Johannes HAHN, European Commissioner for Budget and Administration

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