€75.8bn to fortify the EU's long-term budget

03.10.2023 7:07

€75.8bn to fortify the EU's long-term budget

Flowing sand shaped of Euro sign inside the hourglass

"The EPP Group wants to fortify the EU's long-term budget by €75.8 billion, to restore flexibility and reserves so that we are able to cope with any future unforeseen crises. That means adding an ambitious, yet reasonable, €10 billion in fresh money, on top of the European Commission's proposal for a budgetary revision. We urge Member States to work with the Parliament responsibly, so that EU priorities can be properly funded and achieved", said Jan Olbrycht MEP, a lead negotiator on the mid-term revision of the Multiannual Financial Framework (MFF) 2021-2027.

The EPP Group strongly supports the €50 billion in further financial aid for Ukraine. The Group requests additional top-ups of €3 billion for the Strategic Technologies for Europe Platform (STEP) to support competitiveness, €1 billion for migration and border management, and €1 billion for addressing external challenges.

"It is also essential that we strengthen the Flexibility Instrument by a further €3 billion and the Solidarity and Emergency Aid Reserve by another €2 billion. Those increases will help ensure Europe is equipped to react quickly and effectively to any natural disasters or crises which may arise", Olbrycht said.

"Rising, unpredictable borrowing costs related to the Union’s COVID-19 recovery fund, NextGenerationEU, have added enormous strain to the already overstretched MFF. We insist that the entire Recovery Instrument debt cost is taken over and above the MFF ceilings. Agreed EU programmes should not have to compete against it for funding."

Ahead of the Parliament's adoption of its position on the MFF revision by plenary vote today (Tuesday), the EPP Group has insisted that the revised MFF enters into force before January 2024. "If the last few years have taught us anything, it is the importance of preparedness. We need to future-proof the MFF - now", Olbrycht warned.

Note to editors

The EPP Group is the largest political group in the European Parliament with 177 Members from all EU Member States

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