Pres­sure on to stump up more for EU bud­get

Irish Independent - Farming - - FINANCE -

IRE­LAND and richer EU mem­ber states are un­der in­creas­ing pres­sure from Brus­sels to cough up more cash for the bloc’s bud­get.

The fu­ture of EU farm and re­gional funds will be­come clearer to­mor­row when the EU Com­mis­sion pub­lishes a bud­get blue­print for the years 20202027.

The EU faces a €12-14bn a year post-Brexit short­fall, which bud­get hawks such as the Nether­lands, Den­mark, Sweden and Aus­tria don’t want to plug.

On top of that, the bloc needs an es­ti­mated €8-10bn a year to fi­nance new pri­or­i­ties, in­clud­ing mi­gra­tion, de­fence, ed­u­ca­tion and re­search.

The Euro­pean Com­mis­sion had orig­i­nally hoped to plug the hole through an even split between cuts and new money, but is now re­ly­ing more on gov­ern­ments to cough up the ex­tra cash.

The EU hopes to in­crease the bud­get to between 1.13pc and 1.18pc of the EU’s over­all na­tional in­come — from 1pc cur­rently — which works out roughly at an in­crease of more than €100bn. The Euro­pean Par­lia­ment has said it wants an in­crease of 1.3pc.

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