Parliament says proposed EU budget for 2007-2013 is unacceptably low

The European Parliament took a firm grip of the EU's long-term budget on 18 January 2006, overwhelmingly rejecting the agreement reached by the heads of government in December 2005 at the European Council and calling for negotiations over the level of the provisions for 2007-2013 as well as spending plans. MEPs were particularly critical of the €862 billion in funding agreed by leaders, which compares unfavourably with the €975 billion proposed by the Parliament in June 2005.