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Left rejects budget held hostage to big business


26 Oct 2011


Euro & Finance

"The first problem with the 2012 budget is essentially that it was decided on in 2006, before the 2008 and 2009 crises and before the sovereign debt crisis we are experiencing today," said Miguel Portas (GUE/NGL Portugal) during the debate on the 2012 budget in the European Parliament this morning.

"The second problem with this draft budget is that it is being held hostage to political commitments made to the very powerful. More is being spent on security policy than on education, it's supporting big business more than SMEs, and it's channelling more money to international pharmaceutical companies than to research. My group cannot support this budget" he said calling for a rethink on spending in the European Parliament and demanding that efforts to cut costs also take from MEP office expenses.

Stressing that the EU's financial responsibilities have expanded dramatically in recent years while the budget has remained stable, Jurgen Klüte (GUE/NGL, Germany) said that "half-hearted budget measures would amount to an immediate waste of money."

 "A large fiscal stimulus programme is necessary. Some industry experts even speak of the need for a Marshall Plan for the crisis-ridden EU countries," he said.

"The EU does not need growth-destructive austerity programmes; the EU needs a growth-enhancing spending programme that will secure employment and incomes for workers and young people."

GUE/NGL Press Contacts:

Gay Kavanagh +32 473 84 23 20   

David Lundy +32 485 50 58 12

European United Left / Nordic Green Left

European Parliamentary Group



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