Future of EU money: quick decision is needed

Today, the European Commission presented the last of the 5 reflection papers following the White Paper on the Future of Europe. It provides five basic options for the future of the EU finances, which are based on the White Paper’s five scenarios presented on 1 March 2017.

“This Commission reflection paper provides a good basis for the preparation of the next Multiannual Financial Framework (MFF). I hope we will be able to adopt the next MFF during this legislature. This would ensure predictability and the timely preparation of all funds and the European Union programmes”, said José Manuel Fernandes MEP, EPP Group Spokesman in the European Parliament’s Budgets Committee.

As the European Parliament is about to hold a debate on this topic next Tuesday in Strasbourg, the MFF co-rapporteur Jan Olbrycht MEP said: "The EPP Group welcomes the reflection paper on the future EU finances. It opens a new stage of the discussion on the next Multiannual Financial Framework and on the future of the European Union in general.”

As the MFF sets down the maximum annual amounts which the EU may spend each year in different policy fields over a period of at least 5 years, José Manuel Fernandes MEP highlighted: “The next funds, programmes and financial instruments should contribute to strengthening the competitiveness of the European Union and social, economic and territorial cohesion. At the same time, the EU needs to have security and defence as a new priority. The next MFF should increase the funding amounts. New priorities imply additional resources.”

Facing the certainty that the EU and its budget will change after 2020, Jan Olbrycht MEP concluded: “The EU budget must match our political ambition and allow for the financing of our joint European priorities for the next years that still need to be agreed upon. This decision on the future model of the EU is needed as soon as possible."