639

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Amending Budget No 7/2020: Update of revenue (own resources)

30-09-2020

The purpose of Draft Amending Budget No 7/2020 (DAB 7/2020) is to update the revenue side of the budget, taking into account the latest economic developments. Due to the coronavirus pandemic, the outlook for the European economy has changed significantly since the budget was adopted. DAB 7 proposes the following adjustments on the revenue side of the 2020 budget: an update of the estimates for traditional own resources, the own resources based on the value added tax and gross national income. Further ...

The purpose of Draft Amending Budget No 7/2020 (DAB 7/2020) is to update the revenue side of the budget, taking into account the latest economic developments. Due to the coronavirus pandemic, the outlook for the European economy has changed significantly since the budget was adopted. DAB 7 proposes the following adjustments on the revenue side of the 2020 budget: an update of the estimates for traditional own resources, the own resources based on the value added tax and gross national income. Further updates concern the United Kingdom correction, other revenue taking into account paid-up fines and penalty payments up to June 2020, as well as negative exchange rate differences. The European Parliament is expected to vote on the Council's position on DAB 7/2020 during the October I plenary session.

Understanding the financing of intergovernmental organisations: A snapshot of the budgets of the UN, NATO and WTO

23-09-2020

Access to stable and adequate financial resources is a crucial condition for the realisation of the global goals of intergovernmental organisations (IGOs). In recent decades, alongside global political changes and the evolution in the role of multilateral cooperation, the resourcing and budgetary management of IGOs have also changed. Moreover, funding available to IGOs has become ever more diversified and complex both in terms of its origin and type. This briefing presents selected aspects of the ...

Access to stable and adequate financial resources is a crucial condition for the realisation of the global goals of intergovernmental organisations (IGOs). In recent decades, alongside global political changes and the evolution in the role of multilateral cooperation, the resourcing and budgetary management of IGOs have also changed. Moreover, funding available to IGOs has become ever more diversified and complex both in terms of its origin and type. This briefing presents selected aspects of the financing of three of the world's largest IGOs: the United Nations (UN), the World Trade Organization (WTO) and the North Atlantic Treaty Organization (NATO). It presents the size and evolution of their budgets as well as the main contributing countries to these budgets, with a particular focus on the EU Member States. The analysis is based mainly on budgetary data for the financial year 2018.

The European Parliament’s carbon footprint: Towards carbon neutrality

14-09-2020

The study analyses the European Parliament’s (EP) carbon footprint in the context of the recent EP resolutions, in which it declared a climate emergency in Europe and requested the development of a strategy to become itself carbon-neutral by 2030. The analysis takes into account the various sources contributing to the EP’s greenhouse gas (GHG) emissions, including those related to its function in three different sites and the traveling of its Members and staff. This document was prepared by the Policy ...

The study analyses the European Parliament’s (EP) carbon footprint in the context of the recent EP resolutions, in which it declared a climate emergency in Europe and requested the development of a strategy to become itself carbon-neutral by 2030. The analysis takes into account the various sources contributing to the EP’s greenhouse gas (GHG) emissions, including those related to its function in three different sites and the traveling of its Members and staff. This document was prepared by the Policy Department for Economic, Scientific and Quality of Life Policies, and the Eco-Management and Audit Scheme (EMAS) Unit at the request of the committee on Environment, Public Health and Food Safety (ENVI).

Amending Budget No 8/2020: Covering the financing needs of the Emergency Support Instrument and Coronavirus Response Investment Initiative Plus

11-09-2020

Draft Amending Budget No 8/2020 (DAB 8/2020) aims to provide additional payments of €6.2 billion in 2020. Of this amount, €1.1 billion is needed for the financing of actions contributing to the deployment of an effective and safe vaccine against Covid-19, assumed under the Emergency Support Instrument (ESI). Cohesion funds will be reinforced with €5.1 billion to ensure that a sufficient amount of payments is available to cover the Member States’ reimbursement requests for actions taken under the ...

Draft Amending Budget No 8/2020 (DAB 8/2020) aims to provide additional payments of €6.2 billion in 2020. Of this amount, €1.1 billion is needed for the financing of actions contributing to the deployment of an effective and safe vaccine against Covid-19, assumed under the Emergency Support Instrument (ESI). Cohesion funds will be reinforced with €5.1 billion to ensure that a sufficient amount of payments is available to cover the Member States’ reimbursement requests for actions taken under the Coronavirus Response Investment Initiative Plus (CRII+). The European Parliament is expected to vote, under the urgent procedure, on the Council position on DAB 8/2020 during the September plenary session.

Policy Departments' Monthly Highlights - September 2020

11-09-2020

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

Opinion on the EU own resources system

10-09-2020

Following the European Council’s July political agreement on the EU’s financing system, the European Parliament is expected to vote its legislative opinion on the reform during its September plenary part-session, with a view to expediting the launch of the borrowing operations of Next Generation EU. The report adopted on 1 September by the Committee on Budgets stresses that new own resources must be introduced, and finance at least the entire repayment costs of the recovery instrument. Parliament ...

Following the European Council’s July political agreement on the EU’s financing system, the European Parliament is expected to vote its legislative opinion on the reform during its September plenary part-session, with a view to expediting the launch of the borrowing operations of Next Generation EU. The report adopted on 1 September by the Committee on Budgets stresses that new own resources must be introduced, and finance at least the entire repayment costs of the recovery instrument. Parliament intends to negotiate a legally binding calendar to this end.

EU budget and recovery fund: Is it a done deal? [What Think Tanks are thinking]

29-07-2020

After nearly five days of tough negotiations, the European Council agreed on the EU’s next seven-year budget, the Multiannual Financial Framework (MFF), worth more than one trillion euros from 2021 to 2027, and crucially, on an additional 750-billion euro fund to help countries recover from the economic downturn caused by the coronavirus pandemic. Many politicians and analysts have hailed the agreement on the recovery fund in particular as an ‘historic moment’. For the first time, some EU debt will ...

After nearly five days of tough negotiations, the European Council agreed on the EU’s next seven-year budget, the Multiannual Financial Framework (MFF), worth more than one trillion euros from 2021 to 2027, and crucially, on an additional 750-billion euro fund to help countries recover from the economic downturn caused by the coronavirus pandemic. Many politicians and analysts have hailed the agreement on the recovery fund in particular as an ‘historic moment’. For the first time, some EU debt will be mutualised and the EU will tap financial markets on a significant scale to secure funds, which will be disbursed in the form of grants and loans. The European Parliament - which must approve these spending plans - welcomed the fund but criticised the lack of parliamentary scrutiny in its implementation as well as some of the cuts leaders made in spending on innovation and the climate as compared to the European Commission’s MFF proposals and the Parliament’s own demands, and regretted the weakened link between budget spending and the rule of law. This note offers links to first reactions from international think tanks on the budget deal. Earlier publications on financing the EU can be found in a previous item in this series, published by EPRS on 8 June 2020.

Outcome of the Special European Council meeting of 17-21 July 2020

23-07-2020

After almost five days of negotiations, the European Council 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. Negotiations seem to have concentrated in particular on the balance between loans and grants for the provision of funding under the NGEU, with a final division of €360 and €390 billion respectively. Other notable ...

After almost five days of negotiations, the European Council 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. Negotiations seem to have concentrated in particular on the balance between loans and grants for the provision of funding under the NGEU, with a final division of €360 and €390 billion respectively. Other notable developments concern the link between EU funding and respect for the rule of law, the size of the MFF, rebates and own ressources.

Future financing of the Union: MFF, Own Resources and Next Generation EU

22-07-2020

On 21 July, EU Heads of State or Government reached a political agreement on the future design of EU finances. The next step involves negotiations between Parliament, whose consent is required for the adoption of the EU’s multiannual financial framework (MFF), and Council. In an extraordinary part-session two days later, Parliament is expected to vote on a motion for a resolution that confirms Parliament’s readiness to enter immediately into negotiations to improve the deal and sets out conditions ...

On 21 July, EU Heads of State or Government reached a political agreement on the future design of EU finances. The next step involves negotiations between Parliament, whose consent is required for the adoption of the EU’s multiannual financial framework (MFF), and Council. In an extraordinary part-session two days later, Parliament is expected to vote on a motion for a resolution that confirms Parliament’s readiness to enter immediately into negotiations to improve the deal and sets out conditions for its consent to the MFF.

Documenting climate mainstreaming in the EU budget - making the system more transparent, strigent and comprehensive

16-07-2020

This study examines the current methodologies used for tracking climate-related and biodiversity-related expenditure in the EU budget. It identifies strengths and weaknesses of the current methodologies, and examines proposed changes to the methodologies for the 2021-2027 financial perspective. On this basis, it identifies potential objectives for strengthening the tracking mechanisms, and puts forward suggested approaches to meeting those objectives.

This study examines the current methodologies used for tracking climate-related and biodiversity-related expenditure in the EU budget. It identifies strengths and weaknesses of the current methodologies, and examines proposed changes to the methodologies for the 2021-2027 financial perspective. On this basis, it identifies potential objectives for strengthening the tracking mechanisms, and puts forward suggested approaches to meeting those objectives.

External author

Martin NESBIT Thorfinn STAINFORTH Kaley HART Evelyn UNDERWOOD Gustavo BECERRA Institute for European Environmental Policy

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