Committee on Budgets

Commission's Director-General for Defence Industry and Space, Mr Timo Pesonen, and Director-General for Budget, Mr Gert Jan Koopman presented the proposal "European Defence Industry Reinforcement through common Procurement Act". The Instrument aims to address the most urgent and critical needs for defence products, resulting from Russia's aggression against Ukraine. It would mobilise EUR 500 million of EU budget from 2022 to 2024.

BUDG Members exchanged views on the draft opinion on the Chips Act. In a context where events have shown the fragility of the highly complex and interdependent semiconductor value, the Chips Act proposal by the Commission aims to create a state-of-the-art European chips ecosystem, including production, "from the lab to the fab".