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The InvestEU programme: Continuing EFSI in the next MFF

30-10-2020

Since its launch in November 2014, the Investment Plan for Europe (IPE) has had considerable success in mobilising private investment across Europe. Despite its success, investment levels in Europe remain below pre-crisis levels. There is therefore a need to provide for an extended EU investment programme under the new multiannual financial framework (MFF), which caters for multiple objectives in terms of simplification, flexibility, synergies and coherence across relevant EU policies. The InvestEU ...

Since its launch in November 2014, the Investment Plan for Europe (IPE) has had considerable success in mobilising private investment across Europe. Despite its success, investment levels in Europe remain below pre-crisis levels. There is therefore a need to provide for an extended EU investment programme under the new multiannual financial framework (MFF), which caters for multiple objectives in terms of simplification, flexibility, synergies and coherence across relevant EU policies. The InvestEU programme, expected to run from 2021 onwards, has been designed to address this challenge. It will bring diverse EU financial instruments within a single structure, making EU funding for investment projects in Europe simpler and more efficient and flexible. It will build on the success achieved by the European Fund for Strategic Investments (EFSI) and consist of the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. Negotiators for Parliament and Council have reached a partial agreement on the text of the proposal, excluding budgetary figures and other elements which will not be finalised until overall agreement on the new MFF. Parliament is due to vote on that agreement in April 2019.

Own resources of the European Union: Reforming the EU's financing system

06-10-2020

In July 2020, the European Council reached political agreement on the reform of the own resources system that finances the EU budget, in the context of a package including the new multiannual financial framework (MFF) and the Next Generation EU (NGEU) recovery instrument. The agreed increase in the maximum level of resources that can be called from Member States is a pre-condition for NGEU borrowing operations. The Council’s adoption of the own resources decision, translating the deal on the revenue ...

In July 2020, the European Council reached political agreement on the reform of the own resources system that finances the EU budget, in the context of a package including the new multiannual financial framework (MFF) and the Next Generation EU (NGEU) recovery instrument. The agreed increase in the maximum level of resources that can be called from Member States is a pre-condition for NGEU borrowing operations. The Council’s adoption of the own resources decision, translating the deal on the revenue side of the EU budget into a legal text, must be preceded by Parliament’s legislative opinion and followed by the ratification of the decision by all Member States. Parliament fast-tracked its legislative opinion, adopted in September 2020, to enable the Council to ensure the timely launch of NGEU. Parliament has repeatedly stressed that it will not give its consent to the MFF without proper reform of the financing system, and negotiations continue on the rest of the package. Notably, Parliament underlines that the introduction of a basket of new own resources should cover at least the repayment costs of NGEU. Deeming the new plastics contribution a first partial step in this direction, Parliament intends to negotiate a legally binding calendar on the introduction of five additional new own resources, linked to EU policies on climate and the single market. Second edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.

Natural resources and environment: Heading 3 of the 2021-2027 MFF

27-01-2020

Dedicated to programmes and funds supporting agriculture and maritime policy, and environment and climate change, Heading 3 is the second biggest in terms of funding in the European Commission proposal on the future multiannual financial framework (MFF) for 2021-2027. The two agricultural funds – the European Agricultural Guarantee Fund (EAGF) and the Agricultural Fund for Rural Development (EAFRD) – are the main financial instruments for the common agricultural policy (CAP). They will continue to ...

Dedicated to programmes and funds supporting agriculture and maritime policy, and environment and climate change, Heading 3 is the second biggest in terms of funding in the European Commission proposal on the future multiannual financial framework (MFF) for 2021-2027. The two agricultural funds – the European Agricultural Guarantee Fund (EAGF) and the Agricultural Fund for Rural Development (EAFRD) – are the main financial instruments for the common agricultural policy (CAP). They will continue to absorb the greater part of the financial resources under this heading. However, the European Commission proposes an amount of €324 284 million to cover both funds, which is a decrease of around €60 000 million (or 15 %) compared to the current MFF (2014-2020), after deducing current United Kingdom (UK) spending. The proposed European Maritime and Fisheries Fund (EMFF) would amount to €5 448 million, which is 13 % less than in the current MFF, after deducting current UK spending. In its November 2018 resolution on the European Commission proposals for the new MFF, the European Parliament, raised the budget for agricultural and maritime policy back to the level of the current MFF (2014-2020), to €391 198 million. Where the European Commission proposes €4 828 million for the Programme for Environment & Climate Action (LIFE) for 2021-2027, Parliament's resolution increased this amount considerably, requesting an allocation of €6 442 million. Parliament has also asked for a new Energy Transition Fund, with a budget of €4 800 million for 2021-2027, to address the negative socio-economic impact on workers and communities affected by the transition from a coal and carbon dependent economy to a low-carbon economy. The Council has not yet adopted a position on the MFF proposal and national positions are divergent. However, according to the 'negotiating box' proposed by the Finnish Council Presidency, under Heading 3, the cuts in the budget for agriculture would represent a reduction of 13 % in spending, compared to the current MFF.

Single market, innovation and digital: Heading 1 of the 2021-2027 MFF

27-01-2020

The European Union's long-term budget, the multiannual financial framework (MFF), sets out the maximum annual amounts of spending for a seven-year period. It is structured around the EU's spending priorities, reflected in broad categories of expenditure or 'headings'. Heading 1 – Single market, innovation and digital – is one of the seven headings in the MFF proposed by the European Commission for the new 2021-2027 financial period. The heading covers spending in four policy areas: research and innovation ...

The European Union's long-term budget, the multiannual financial framework (MFF), sets out the maximum annual amounts of spending for a seven-year period. It is structured around the EU's spending priorities, reflected in broad categories of expenditure or 'headings'. Heading 1 – Single market, innovation and digital – is one of the seven headings in the MFF proposed by the European Commission for the new 2021-2027 financial period. The heading covers spending in four policy areas: research and innovation, European strategic investments, single market, and space. The Commission, with a view to matching the budget to the EU's political ambitions, is proposing an overall amount of €166.3 billion (in 2018 prices) for this heading, representing 14.7 % of the MFF proposal. However, the new Commission's six priorities for 2019-2024 could have a budgetary impact on this heading, in particular the support for investment in green technologies and a cleaner private and public transport, which are among the actions included in the European Green Deal, and efforts to enable Europe to make the most of the potential of the digital age. This briefing presents the structure and budget allocation of Heading 1 and compares it with the current MFF. It describes each policy cluster and compares the Commission's budgetary proposal with the European Parliament's negotiating position and the negotiating box presented by the Finnish Presidency in December 2019. It then explores some considerations that could contribute to the forthcoming budgetary negotiations on the 2021-2027 MFF.

The 2021-2027 Multiannual Financial Framework in figures

24-01-2020

The Multiannual Financial Framework (MFF) sets the maximum level of resources (‘ceiling’) for each major category (‘heading’) of EU spending for a period of seven years. In addition to a financial plan, it sets the EU’s long-term priorities. With the 2014-2020 MFF nearing its end, the EU is now in negotiations on the next long-term budget. In May 2018, the European Commission presented a package of legislative proposals for the 2021-2027 MFF. Equivalent to 1.11 % of EU-27 gross national income (GNI ...

The Multiannual Financial Framework (MFF) sets the maximum level of resources (‘ceiling’) for each major category (‘heading’) of EU spending for a period of seven years. In addition to a financial plan, it sets the EU’s long-term priorities. With the 2014-2020 MFF nearing its end, the EU is now in negotiations on the next long-term budget. In May 2018, the European Commission presented a package of legislative proposals for the 2021-2027 MFF. Equivalent to 1.11 % of EU-27 gross national income (GNI), it takes into account the initiatives to which the Member States committed in the Bratislava and Rome declarations, as well as the loss of a major contributor due to the United Kingdom’s withdrawal from the EU. The European Parliament considers the proposal insufficient, given all commitments and priorities, and estimates that the MFF ceiling should amount to 1.3 % of EU-27 GNI. The Member States’ views on both the size and other aspects of the future MFF diverge, and the Council has not yet agreed its position. EU leaders are expected to take the next important decisions on the matter during the first half of 2020. The resources proposed for the 2021-2027 MFF are distributed across seven headings, representing the EU’s long-term priorities. They include spending programmes and funds that are the basis for the implementation of the EU budget. Our infographic provides a breakdown of the proposals for each of the seven headings, as well as an indication of the changes from the current MFF (2014-2027) represented by both the Commission's proposal and Parliament's position on that proposal.

Financing EU security and defence: Heading 5 of the 2021-2027 MFF

23-01-2020

For the new 2021-2027 multiannual financial framework (MFF), the European Commission proposes to dedicate a separate heading to security and defence – Heading 5. Although the European Union (EU) has already financed action linked to security and defence, this is the first time that this policy area has been so visibly underlined in the EU budget structure. With an allocation of €24 323 million (in 2018 prices), Heading 5 is the smallest of the seven MFF headings and represents 2.1 % of the total ...

For the new 2021-2027 multiannual financial framework (MFF), the European Commission proposes to dedicate a separate heading to security and defence – Heading 5. Although the European Union (EU) has already financed action linked to security and defence, this is the first time that this policy area has been so visibly underlined in the EU budget structure. With an allocation of €24 323 million (in 2018 prices), Heading 5 is the smallest of the seven MFF headings and represents 2.1 % of the total MFF. Heading 5 'Security and Defence' under the new MFF consists of three 'policy clusters': security, (policy cluster number 12), defence (13) and crisis response (14). The programmes and funds proposed for Heading 5 consist of old and new initiatives. They include the continuation of the current Internal Security Fund – Police instrument, funding for nuclear decommissioning and the Union Civil Protection Mechanism (rescEU). The European Defence Fund and the military mobility programme, which is a part of the Connecting Europe Facility, are new. The European Parliament position is supportive of the Commission proposal, with the exception of the allocation for nuclear decommissioning, which the Parliaments sees as insufficient. Even though the Council has not yet expressed its position on the 2021-2027 MFF, the Finnish EU Presidency contributed to the debate with its 'negotiation box' that proposed severe cuts to Heading 5, down to €16 491 million. The European Parliament reaction to this reduction is negative.

Migration and border management: Heading 4 of the 2021-2027 MFF

23-01-2020

The Treaty of Lisbon makes explicit reference to pooling financial resources to support common policies on asylum, immigration and external borders. While expenditure for these policy areas still represents a minor share of the EU budget, it has recently increased in the wake of the 2015-2016 refugee crisis. Since the resources available under the 2014-2020 multiannual financial framework (MFF) of the EU proved insufficient to address the crisis, EU institutions had to use the flexibility provisions ...

The Treaty of Lisbon makes explicit reference to pooling financial resources to support common policies on asylum, immigration and external borders. While expenditure for these policy areas still represents a minor share of the EU budget, it has recently increased in the wake of the 2015-2016 refugee crisis. Since the resources available under the 2014-2020 multiannual financial framework (MFF) of the EU proved insufficient to address the crisis, EU institutions had to use the flexibility provisions of the MFF extensively. Given the increasing salience of the policy areas, the European Commission has proposed the establishment of a specific heading devoted to migration and border management worth €30.8 billion (2018 prices) in the 2021-2027 MFF. As compared with the current period, these allocations would represent a significant increase in relative terms, especially as regards border management. The heading would finance two funding instruments, the Asylum and Migration Fund (AMF) and the Integrated Border Management Fund (IBMF), as well as the activities of relevant EU decentralised agencies, such as the European Border and Coast Guard Agency and the European Asylum Support Office. By designing these new funds, the European Commission seeks to improve synergies with other EU funding instruments and increase capacity to react to evolving needs. Negotiations for the MFF package are very complex, involving different legislative procedures for the adoption of the overall MFF and the sector-specific instruments. The European Parliament, the Council and the European Council are working on the proposals, which have also triggered reactions from other stakeholders, including academics, think-tanks and commentators.

Outcome of the meetings of EU leaders, 12-13 December 2019

17-12-2019

At the first European Council meeting chaired by the new President, Charles Michel, the main issues on the agenda were climate change, the next Multiannual Financial Framework (MFF), and the proposed Conference on the Future of Europe. Regarding climate change, the European Council announced an agreement on the objective of achieving a climate-neutral EU by 2050, despite the refusal of one Member State to commit to implementing this objective at this stage. On the MFF, the European Council did not ...

At the first European Council meeting chaired by the new President, Charles Michel, the main issues on the agenda were climate change, the next Multiannual Financial Framework (MFF), and the proposed Conference on the Future of Europe. Regarding climate change, the European Council announced an agreement on the objective of achieving a climate-neutral EU by 2050, despite the refusal of one Member State to commit to implementing this objective at this stage. On the MFF, the European Council did not reach agreement, but mandated its President to take the negotiations forward. The European Council also considered the idea of a Conference on the Future of Europe, and tasked the in-coming Croatian Council presidency to work towards defining a Council position on the matter, and on that basis, to engage with the European Parliament and the Commission. EU leaders also discussed a wide range of international issues, including relations with Turkey and Russia.

Policy Departments' Monthly Highlights - December 2019

16-12-2019

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

Outlook for the meetings of EU leaders on 12-13 December 2019

09-12-2019

The main issues on the agenda of the European Council are climate change and the Multiannual Financial Framework (MFF). EU leaders will also address the idea of a Conference on the Future of Europe, with the aim of developing a joint position of Member States on the initiative. In addition, the European Council (Article 50) meeting is expected to discuss the result of the general election in the UK (taking place on 12 December) and the likely consequences for the Brexit process, as well as preparations ...

The main issues on the agenda of the European Council are climate change and the Multiannual Financial Framework (MFF). EU leaders will also address the idea of a Conference on the Future of Europe, with the aim of developing a joint position of Member States on the initiative. In addition, the European Council (Article 50) meeting is expected to discuss the result of the general election in the UK (taking place on 12 December) and the likely consequences for the Brexit process, as well as preparations for the negotiations on future EU-UK relations. Finally, the Euro Summit will concentrate on the revision of the European Stability Mechanism (ESM) Treaty, the budgetary instrument for convergence and competitiveness (BICC), and technical work on the strengthening of the banking union.

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