{"id":144880,"date":"2023-11-13T10:49:22","date_gmt":"2023-11-13T09:49:22","guid":{"rendered":"https:\/\/www.cde.ual.es\/?p=144880"},"modified":"2023-11-13T10:49:22","modified_gmt":"2023-11-13T09:49:22","slug":"european-parliament-calls-for-new-own-resources-for-the-eu","status":"publish","type":"post","link":"https:\/\/www.cde.ual.es\/en\/european-parliament-calls-for-new-own-resources-for-the-eu\/","title":{"rendered":"European Parliament calls for new own resources for the EU"},"content":{"rendered":"

To invest in Europe\u2019s future and support the recovery, the EU has agreed on a binding calendar to introduce new revenue sources for the Union\u2019s budget.<\/strong><\/p>\n

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In a\u00a0deal<\/a>\u00a0on\u00a0the EU\u2019s 2021-2027 budget<\/a>\u00a0as well as the\u00a0\u20ac750 billion Covid-19 recovery instrument<\/a>\u00a0on 10 November 2020, the Parliament, Council and Commission reached an agreement on a binding timeline for the introduction of new EU revenue sources, including levies on unrecycled plastic waste, the tech giants and major foreign polluters.<\/p>\n

What are own resources?<\/span><\/h6>\n
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EU countries contribute to a common EU budget in order to achieve common objectives. Unlike national budgets, the EU budget is an investment budget and is not permitted to run a deficit. The\u00a0EU treaties\u00a0<\/a>stipulate that the Union\u2019s budget \u201cshall be financed wholly from own resources\u201d.<\/p>\n

These revenue sources<\/a>\u00a0are determined by the Council, acting unanimously having consulted the Parliament, and must be ratified also by each EU country. The system of own resources remained largely unchanged for three decades and Parliament has long called for it to be overhauled.<\/p>\n

What own resources already exist?<\/span><\/h6>\n

As the EU budget must always be in balance, annual revenue must completely cover annual expenditure.<\/p>\n

EU revenue presently consists of the following:<\/p>\n