Watch the meeting on next year's budget live online 

The procedure for adopting the EU's budget for next year kicks off on 11 June when budget commissioner Janusz Lewandowski comes to Parliament to present the draft proposal and discuss it with MEPs. The budget can only be adopted if both the Council and the Parliament approve it. The budgets committee meetings starts at 11.00 CET. Watch it live online.

The budgets committee is responsible for drafting the Parliament's position on the draft budget, using input from other parliamentary committees and taking into account the Council's stand. Its members then vote on the draft position during the last week of September.

The subsequent plenary vote is likely to take part in late October. Usually the Parliament proposes amendments to the Council's position. If the Council does not agree with these changes, a conciliation committee is convened. This involves representatives from the two bodies trying to reach a compromise, which then has to be approved.

As part of previous negotiations in recent years the Parliament managed to achieve more funding for growth initiatives and support for young people as well as  a reduction of budget gaps.