Following the presentation of updated proposals for EU revenue sources, EP's rapporteurs urged the Council to promptly adopt them, or extremist parties will have a win.
The proposals for new “Own Resources” will be essential to repay the debt under the EU recovery plan, especially with rising interests having a heavy impact on the EU budget. Only recently, Parliament assessed the revenue side of the EU budget and advocated several new revenue streams in a resolution adopted in May. MEPs recall that the legally binding roadmap introducing new sources of EU revenue sets precise dates for their introduction.
Co-rapporteur José Manuel Fernandes (EPP, PT) said: "New own resources are crucial especially from 2027 onwards: without them, there would be relentless reductions to the EU's budget each year to service the debt taken up to finance the recovery plan. However, these fresh streams of income can only gain momentum if all Member States expedite the ratification process. It is urgent that resources linked to both the Carbon Border Adjustment Mechanism (CBAM) and the Emissions Trading System (ETS) are adopted by the 27 EU countries without further delay.”
Co-rapporteur Valérie Hayer (RENEW, FR) said: "Member States must urgently adopt the own resources linked to the Carbon Border Adjustment Mechanism and the ETS carbon market. There is no reason for any further delay as the sector-specific texts have been approved and the pertinent figures are available. The current revision of the EU's long-term budget, the Multiannual Financial Framework, that will address the issue of the repayment of borrowed EU recovery aid, reinforces this urgency. The momentum is now. This must be done before the EU elections in 2024. We will make sure it happens."
Parliament will adopt an opinion under the consultation procedure while the Council of the EU has to approve the proposals on the basis of unanimity. Member states then have to ratify any new Own Resources Decision.
In 2020, along with the current long-term EU budget (multi-annual financial framework 2021-2027), the EU institutions agreed on a legally binding roadmap introducing new sources of EU revenue. On that basis, the plastics own resource, introduced in 2021, was the first new source of EU revenue since 1988. End of 2021, the Commission proposed three further own resources, on which Parliament has positioned itself in November 2022 but which the member states have not yet adopted.