| Author (Corporate) | European Parliament |
|---|---|
| Series Title | Press Release |
| Series Details | 05.02.15 |
| Publication Date | 05/02/2014 |
| Content Type | News |
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The Budgets Committee of the European Parliament defended on 5 February 2015 EU budget funding should be reformed, but not by adding to the burden on taxpayers. The debate took place following the analysis of the first report by the High Level Group on Own Resources (HLG), which is headed by the former Italian prime minister Mario Monti. The own resources system determines how much each member state pays to finance the functioning of the EU and when. Own resources were originally meant to provide an EU with revenue that is not conditional on decisions by national authorities. But in practice, most EU revenue today comes from de facto national contributions. Because the EU own resources system is approved by a unanimous vote in the European Council and ratified by all member states - the European Parliament has only a consultative role) - the lack of support in Council for a series of reforms proposed by the European Commission in 2011 resulted in a prolongation of the current system, which is plagued by conflicts between net payers and net beneficiaries. An example of those conflicts was registered in late 2014, as you can check by clicking here. |
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| Source Link | http://www.europarl.europa.eu/news/en/news-room/content/20150204IPR19007/ |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe |
