Thursday 24 April 2014
Advertise  |  Subscribe  |  Register  | 

Close

About cookies: we use cookies to support features like login and sharing articles. Keep cookies enabled to enjoy the full site experience. By browsing our site with cookies enabled, you are agreeing to their use. Review our cookies information for more details.

Van Rompuy trims spending plans for 2014-20 by €75bn

By Toby Vogel  -  15.11.2012 / 05:55 CET
Reductions go €25bn further than Cypriot draft.
The way ahead
 

This article is reserved for paying subscribers...

FullOffer_small

Log-in:

Password:

Forgot your password? Just type in your email address and click on the Log In button

Select your offer today and receive:

Register Online Print
Hover over for more info

Free

€3 per week

€3.50 per week

Daily online news
EV Insider and e-alerts
Full access on mobile devices
Access to editorial, comment
Profiles
Special reports
Access to the archives
Access to iOS and Android apps
Newspaper delivered weekly
Register
Select offer
Select offer

For more information please contact subscriptions@europeanvoice.com or call +32 2 540 9098


Please log in to read this article:

Log-in

Password

Forgot your password? Just type in your e-mail address and click on the Log In button

Remember me

 

Don't have a login yet?

Discover your benefits and register for free now! It only takes a minute.

Register for free

© 2014 European Voice. All rights reserved.
Varrow

Most viewed in Economics

vanrompuy
HERMAN VAN ROMPUY President of the European Council. REUTERS
Fact file

The numbers game

In his draft for the multi-annual financial framework for 2014-20 published yesterday (14 November), Herman Van Rompuy, the president of the European Council, proposed cuts of €75 billion to the European Commission's proposal of €1,033bn in spending. Cyprus, which had produced previous drafts, had proposed reductions of €50bn.

Van Rompuy proposed €15bn less for cohesion policy, bringing it to €309bn, and €14.5bn less for agricultural policy, down to €364.47bn. This includes a reduction of €7.15bn in rural development (bringing it to €83.67bn). At the same time, the latest proposal raises the cap on cohesion funding from 2.36% of a country's gross national product to 2.4%.

Van Rompuy's version also restores certain funding lines that had been cut by Cyprus, holder of the rotating presidency of the Council of Ministers, in its draft MFF. The Connecting Europe facility, which provides investments for infrastructure projects, has been raised to €46.25bn, €10bn more than in the Cyprus proposal. This includes €10bn in financing from the EU's cohesion fund, a contribution which Cyprus had proposed to cut to €7bn.

Sweden's rebate would drop by €25 million to €325m, while the German rebate would rise by €300m to €2.8bn and the Dutch rebate by €100m to €1.15bn. The UK's rebate would remain untouched, although its financing would be more evenly spread among all member states.

The latest draft MFF also contains a list of specific savings in administrative spending, including a 40-hour working week for EU staff, the continuation of a solidarity levy on staff salaries, a later retirement age, of 65, and restrictions on early retirement.

The European Development Fund, which is technically outside the EU budget but whose size is set as part of the MFF negotiations, faces a €3bn cut from the €30bn proposed by the Commission (Cyprus's draft contained no overall figure for the EDF).

Related articles

Council has called for “considerable budget constraints”.

Former Italian prime minister will examine ways the EU can collect its own financial resources outside of member state contributions.

The Greek parliament approved the draft 2014 budget by a slender margin late on Saturday (7 November), following five days of heated debate.

Negotiations with international creditors over budget and reforms to resume this week

Agreement also given to budget for 2014.

Advertisement

Comments

 

Your comment
Please note: The fields followed by an asterisk (*) are obligatory fields

Comment*

Name*
E-mail*
Website

Please, copy the code on the left into the box on the right

 I accept the Terms & conditions
 I would like to share my e-mail & website

Advertisement

Cookies info | Privacy policy | Terms & conditions