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EU Budget: Commission tables €1.279 trillion EU budget plan for 2021-2027: By Irene Kostaki

The European Commission on Apri 2 proposed an EU budget of €1.279 trillion for 2021 to 2027, the long-anticipated Multiannual Financial Framework (MFF).

European Commission President Jean-Claude Juncker unveiled the MFF draft plan during the European Parliament plenary in Brussels. It is the first such plan for the EU-27, in the wake of the UK’s decision to withdraw from the European Union. According to Juncker, this plan is “an opportunity to shape our future as a new, ambitious union of 27.”

With the cost of Britain’s departure factored in, the remaining EU member states will be required to fill the hole by raising their contributions to around 1.1% of gross national income (GNI) per member state, a 1% rise from the current level. According to Juncker, “the ball is now in the court of the Council and the Parliament”.

The EU’s Budget Commissioner, Günther H. Oettinger, has said that more than one sector will see their costs cut as, “The gap being left by the UK’s departure and the new tasks ahead call for changes”.  The possible cuts could see cohesion funds could be slashed by 7% and agriculture by 5%, while direct payments could be cut by about 4%, according to the Commissioner.

Read more: Commission tables €1.279 trillion EU budget plan for 2021-2027

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