21 Jun EU Commission has submitted its proposal for the multi-annual financial framework
Every seven years, the European Union decides on its future long-term budget; in other words, the multiannual financial framework. The European Commission presented its proposal for the Multiannual Financial Framework 2021-2017 on the 2nd of May 2018.
With a combination of additional contributions and savings, the Commission proposes a multiannual financial framework providing for commitment appropriations of € 1279 billion over the period 2021-2027, representing 1.144% of the gross national income of the EU-27. According to the Commission proposals, cohesion policy funding—as well as the common agricultural policy—will be cut by around 5% each.
On the other hand, due to their significant European added value, the European Territorial Cooperation (Interreg), which is part of the cohesion policy, has been granted a budget of € 9.5 billion (for comparison, the 2014-2020 period had a budget of € 8.9 billion). The Interreg programs support cross-border, transnational and interregional cooperation across Europe, enabling EU Member States and regions to work together across borders to address common challenges.
What does the future hold for the EU-27? The Commission will, on the basis of the proposals presented, make detailed proposals in the coming weeks for the envisaged sectoral proposal. Stay tuned!