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New Straits Times
16-07-2025
- Business
- New Straits Times
EU sets stage for big battle over long-term budget
BRUSSELS: The European Commission will kickstart two years of tense negotiations when it unveils its proposal Wednesday for the EU's long-term budget including funding reforms that risk renewed confrontation with farmers. EU chief Ursula von der Leyen has to balance a growing list of priorities including bolstering the bloc's security, ramping up Europe's competitiveness to keep up with US and Chinese companies, countering climate change and paying debts due from 2028. And all of this against a backdrop of soaring trade tensions with the European Union's biggest commercial partner, the United States. The previous 2021-2027 budget was worth around 1.2 trillion euros ($1.4 trillion) and made up from national contributions – around one percent of the member states' gross national income – and money collected by the EU such as customs duties. One of the biggest challenges ahead will be over the size of the budget, as the EU's biggest – and richest – countries want to avoid paying more. But unlike in the previous budget, the EU has debts due from the Covid pandemic, when the bloc teamed up to borrow 800 billion euros to support the continent's economy. These are estimated to cost 25-30 billion euros a year from 2028. The European Parliament has made it clear that an increase will be necessary. "We believe that the union cannot do more with the same amount or less. So we believe that in the end, an increase of the budget will be unavoidable," said Siegfried Muresan, the EU lawmaker who will lead negotiations on behalf of parliament. The commission plans to propose new ways of raising money including taxes on large companies in Europe with annual net turnover of more than 50 million euros, according to a draft document seen by AFP. Another area of fierce debate will be the large farming subsidies that make up the biggest share of the budget, known as the common agricultural policy (CAP). Brussels plans to integrate it into a new major "national and regional partnership" fund, according to another document – which farmers fear will mean less support. The CAP accounts for almost a third of the current multi-year budget – around 387 billion euros, of which 270 billion euros are directly paid to farmers. Centralising "funding into a single fund may offer some budgetary flexibility, but it risks dissolving" the CAP with "fewer guarantees", pan-European farmers' group Copa-Cogeca has said. Farmers will put pressure on the commission with hundreds expected to protest outside the building in Brussels on Wednesday. That will raise fears in Brussels after protests broke out last year across Europe by farmers angry over cheap imports, low margins and the burden of environmental rules. Muresan, who belongs to the biggest parliamentary group, the centre-right EPP, urged the same level of funding for the CAP, "adjusted for inflation." The commission has, however, stressed the CAP will continue with its own rules and financial resources, especially direct aid to farmers. Brussels could also propose reviewing how CAP payments are calculated to better target beneficiaries. For example, the commission wants to cap aid per hectare at 100,000 euros but this would be a thorny issue unlikely to garner much support. Facing new costs and competing challenges, the EU wants to tap new sources of funding – fast. In one document, the commission suggests the bloc take a share from higher tobacco excise duties and a new tax on non-recycled electronic waste. Such a move, however, is "neither stable nor sufficient", according to centrist EU lawmaker Fabienne Keller, critical of giving new tasks to Brussels "without the necessary means to accomplish them." Wednesday's proposal will launch difficult talks over the budget and is expected to "as usual, end with five days of negotiations" between EU capitals, an official said.
Yahoo
16-07-2025
- Business
- Yahoo
EU sets stage for big battle over long-term budget
The European Commission will kickstart two years of tense negotiations when it unveils its proposal Wednesday for the EU's long-term budget including funding reforms that risk renewed confrontation with farmers. EU chief Ursula von der Leyen has to balance a growing list of priorities including bolstering the bloc's security, ramping up Europe's competitiveness to keep up with US and Chinese companies, countering climate change and paying debts due from 2028. And all of this against a backdrop of soaring trade tensions with the European Union's biggest commercial partner, the United States. The previous 2021-2027 budget was worth around 1.2 trillion euros ($1.4 trillion) and made up from national contributions -- around one percent of the member states' gross national income -- and money collected by the EU such as customs duties. One of the biggest challenges ahead will be over the size of the budget, as the EU's biggest -- and richest -- countries want to avoid paying more. But unlike in the previous budget, the EU has debts due from the Covid pandemic, when the bloc teamed up to borrow 800 billion euros to support the continent's economy. These are estimated to cost 25-30 billion euros a year from 2028. The European Parliament has made it clear that an increase will be necessary. "We believe that the union cannot do more with the same amount or less. So we believe that in the end, an increase of the budget will be unavoidable," said Siegfried Muresan, the EU lawmaker who will lead negotiations on behalf of parliament. The commission plans to propose new ways of raising money including taxes on large companies in Europe with annual net turnover of more than 50 million euros, according to a draft document seen by AFP. - Funding farmers - Another area of fierce debate will be the large farming subsidies that make up the biggest share of the budget, known as the common agricultural policy (CAP). Brussels plans to integrate it into a new major "national and regional partnership" fund, according to another document -- which farmers fear will mean less support. The CAP accounts for almost a third of the current multi-year budget -- around 387 billion euros, of which 270 billion euros are directly paid to farmers. Centralising "funding into a single fund may offer some budgetary flexibility, but it risks dissolving" the CAP with "fewer guarantees", pan-European farmers' group Copa-Cogeca has said. Farmers will put pressure on the commission with hundreds expected to protest outside the building in Brussels on Wednesday. That will raise fears in Brussels after protests broke out last year across Europe by farmers angry over cheap imports, low margins and the burden of environmental rules. Muresan, who belongs to the biggest parliamentary group, the centre-right EPP, urged the same level of funding for the CAP, "adjusted for inflation". The commission has, however, stressed the CAP will continue with its own rules and financial resources, especially direct aid to farmers. Brussels could also propose reviewing how CAP payments are calculated to better target beneficiaries. For example, the commission wants to cap aid per hectare at 100,000 euros but this would be a thorny issue unlikely to garner much support. - More money - Facing new costs and competing challenges, the EU wants to tap new sources of funding -- fast. In one document, the commission suggests the bloc take a share from higher tobacco excise duties and a new tax on non-recycled electronic waste. Such a move, however, is "neither stable nor sufficient", according to centrist EU lawmaker Fabienne Keller, critical of giving new tasks to Brussels "without the necessary means to accomplish them". Wednesday's proposal will launch difficult talks over the budget and is expected to "as usual, end with five days of negotiations" between EU capitals, an official said. adc-raz/ec/rlp/tc Sign in to access your portfolio
France 24
16-07-2025
- Business
- France 24
EU sets stage for big battle over long-term budget
EU chief Ursula von der Leyen has to balance a growing list of priorities including bolstering the bloc's security, ramping up Europe's competitiveness to keep up with US and Chinese companies, countering climate change and paying debts due from 2028. And all of this against a backdrop of soaring trade tensions with the European Union's biggest commercial partner, the United States. The previous 2021-2027 budget was worth around 1.2 trillion euros ($1.4 trillion) and made up from national contributions -- around one percent of the member states' gross national income -- and money collected by the EU such as customs duties. One of the biggest challenges ahead will be over the size of the budget, as the EU's biggest -- and richest -- countries want to avoid paying more. But unlike in the previous budget, the EU has debts due from the Covid pandemic, when the bloc teamed up to borrow 800 billion euros to support the continent's economy. These are estimated to cost 25-30 billion euros a year from 2028. The European Parliament has made it clear that an increase will be necessary. "We believe that the union cannot do more with the same amount or less. So we believe that in the end, an increase of the budget will be unavoidable," said Siegfried Muresan, the EU lawmaker who will lead negotiations on behalf of parliament. The commission plans to propose new ways of raising money including taxes on large companies in Europe with annual net turnover of more than 50 million euros, according to a draft document seen by AFP. Funding farmers Another area of fierce debate will be the large farming subsidies that make up the biggest share of the budget, known as the common agricultural policy (CAP). Brussels plans to integrate it into a new major "national and regional partnership" fund, according to another document -- which farmers fear will mean less support. The CAP accounts for almost a third of the current multi-year budget -- around 387 billion euros, of which 270 billion euros are directly paid to farmers. Centralising "funding into a single fund may offer some budgetary flexibility, but it risks dissolving" the CAP with "fewer guarantees", pan-European farmers' group Copa-Cogeca has said. Farmers will put pressure on the commission with hundreds expected to protest outside the building in Brussels on Wednesday. That will raise fears in Brussels after protests broke out last year across Europe by farmers angry over cheap imports, low margins and the burden of environmental rules. Muresan, who belongs to the biggest parliamentary group, the centre-right EPP, urged the same level of funding for the CAP, "adjusted for inflation". The commission has, however, stressed the CAP will continue with its own rules and financial resources, especially direct aid to farmers. Brussels could also propose reviewing how CAP payments are calculated to better target beneficiaries. For example, the commission wants to cap aid per hectare at 100,000 euros but this would be a thorny issue unlikely to garner much support. More money Facing new costs and competing challenges, the EU wants to tap new sources of funding -- fast. In one document, the commission suggests the bloc take a share from higher tobacco excise duties and a new tax on non-recycled electronic waste. Such a move, however, is "neither stable nor sufficient", according to centrist EU lawmaker Fabienne Keller, critical of giving new tasks to Brussels "without the necessary means to accomplish them". Wednesday's proposal will launch difficult talks over the budget and is expected to "as usual, end with five days of negotiations" between EU capitals, an official said. © 2025 AFP
Int'l Business Times
16-07-2025
- Business
- Int'l Business Times
EU Sets Stage For Big Battle Over Long-term Budget
The European Commission will kickstart two years of tense negotiations when it unveils its proposal Wednesday for the EU's long-term budget including funding reforms that risk renewed confrontation with farmers. EU chief Ursula von der Leyen has to balance a growing list of priorities including bolstering the bloc's security, ramping up Europe's competitiveness to keep up with US and Chinese companies, countering climate change and paying debts due from 2028. And all of this against a backdrop of soaring trade tensions with the European Union's biggest commercial partner, the United States. The previous 2021-2027 budget was worth around 1.2 trillion euros ($1.4 trillion) and made up from national contributions -- around one percent of the member states' gross national income -- and money collected by the EU such as customs duties. One of the biggest challenges ahead will be over the size of the budget, as the EU's biggest -- and richest -- countries want to avoid paying more. But unlike in the previous budget, the EU has debts due from the Covid pandemic, when the bloc teamed up to borrow 800 billion euros to support the continent's economy. These are estimated to cost 25-30 billion euros a year from 2028. The European Parliament has made it clear that an increase will be necessary. "We believe that the union cannot do more with the same amount or less. So we believe that in the end, an increase of the budget will be unavoidable," said Siegfried Muresan, the EU lawmaker who will lead negotiations on behalf of parliament. The commission plans to propose new ways of raising money including taxes on large companies in Europe with annual net turnover of more than 50 million euros, according to a draft document seen by AFP. Another area of fierce debate will be the large farming subsidies that make up the biggest share of the budget, known as the common agricultural policy (CAP). Brussels plans to integrate it into a new major "national and regional partnership" fund, according to another document -- which farmers fear will mean less support. The CAP accounts for almost a third of the current multi-year budget -- around 387 billion euros, of which 270 billion euros are directly paid to farmers. Centralising "funding into a single fund may offer some budgetary flexibility, but it risks dissolving" the CAP with "fewer guarantees", pan-European farmers' group Copa-Cogeca has said. Farmers will put pressure on the commission with hundreds expected to protest outside the building in Brussels on Wednesday. That will raise fears in Brussels after protests broke out last year across Europe by farmers angry over cheap imports, low margins and the burden of environmental rules. Muresan, who belongs to the biggest parliamentary group, the centre-right EPP, urged the same level of funding for the CAP, "adjusted for inflation". The commission has, however, stressed the CAP will continue with its own rules and financial resources, especially direct aid to farmers. Brussels could also propose reviewing how CAP payments are calculated to better target beneficiaries. For example, the commission wants to cap aid per hectare at 100,000 euros but this would be a thorny issue unlikely to garner much support. Facing new costs and competing challenges, the EU wants to tap new sources of funding -- fast. In one document, the commission suggests the bloc take a share from higher tobacco excise duties and a new tax on non-recycled electronic waste. Such a move, however, is "neither stable nor sufficient", according to centrist EU lawmaker Fabienne Keller, critical of giving new tasks to Brussels "without the necessary means to accomplish them". Wednesday's proposal will launch difficult talks over the budget and is expected to "as usual, end with five days of negotiations" between EU capitals, an official said.
Straits Times
19-06-2025
- Business
- Straits Times
EU's main political group on collision course with Germany over budget increase demands
BRUSSELS - The European Union's next long-term budget must be bigger than the current one, the main political group in the European Parliament said, putting itself on a collision course with the biggest contributor Germany, which does not want any increase. The centre-right European People's Party, with 188 deputies in the 720-seat parliament, is the EU's biggest political grouping and its support will be crucial for a deal on the EU's 2028-2034 budget, which pays for joint EU policies. For decades, the budget, called the Multiannual Financial Framework, has been around 1% of EU gross national income, now about 1.2 trillion euros ($1.38 trillion) over seven years. "New priorities require new own resources to cover both debt repayments and the Union's increasing spending needs. We cannot do more with less," said Siegfried Muresan, who is the vice-chairman of the party and a negotiator for the next EU budget. The EU budget pays to equalise standards of living across the 27-nation bloc, support farmers, research and development, innovation, border management and climate action. But governments also want it to also help with security and defence and to strengthen Europe's industrial base to compete more effectively with China and the United States in leadership in clean and digital technologies. "The EU budget has a key role in making Europe safer. We need a more ambitious allocation for security and defence. Therefore, a moderate, limited increase of the budget is unavoidable," Muresan said. Germany, the budget's biggest net contributor, does not want to pay more into the common European pot. "There is no basis for increasing the ... (EU budget) volume relative to Gross National Income," a German document spelling out Berlin's position showed. OWN RESOURCES Apart from national contributions, which make up the bulk of EU budget revenues, it also gets money from "own resources" - revenues from a share of the Value Added Tax collected by governments, from tariffs and national contributions based on the amount of non-recycled plastic packaging waste generated by a member state. There is discussion on expanding such dedicated sources of revenue to boost EU income, especially as a way to repay the hundreds of billions of euros the EU jointly borrowed to restart its economy after the COVID pandemic. Germany has left the door open to increasing EU budget revenues in this way. "The Federal Government will ... constructively examine the Commission's proposals in this regard, so that ... repayments will not have to be made at the expense of the regular EU budget," the German government paper said. The European People's Party also pushed back at ideas that the next EU budget should link disbursements to an EU country reaching reform milestones and targets, as is the case in the EU post-COVID Recovery Fund. "Local and regional authorities and other beneficiaries cannot be penalised or held accountable for reforms that are not implemented at the national level," the Party said in a statement. The Party also said it did not want further centralisation of spending plans at government level. "Regional and local authorities know better the needs and specificities on the ground." REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
