Van Rompuys’ Proposal on EU Budget

Posted by in Economy

A copy of latest proposal for the EU budget had been obtained by Open Europe Blog. European Council President Herman Van Rompuy proposes that the headline spending figure remains broadly unchanged in the new proposal, standing at €1,014bn (a €4bn increase), but more cash is spent on farm subsidies and structural funds, in a move designed to appease France, Poland, Italy and Spain.

No figure is given for payments appropriations – the figure that the UK government is targeting – but given that this figure has widely been cited to be €940bn, it’s likely that it’ll have to come down more if acceptable to the UK (with the government’s initial proposal at €886bn).

Also, just like with the previous draft, the latest van Rompuy proposal foresees cuts to the UK rebate – which is a non-starter for Britain

 

See full report here.