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S&D: We need a bigger and better EU pluriannual budget with a permanent crisis instrument

Date

15 Dec 2022

Sections

Euro & Finance

The Socialists and Democrats are building a cross-party majority to profoundly change the European pluriannual budget until 2027 in terms of its structure, size and rules. The S&D Group, as a part of the parliamentary majority on this issue, with today’s vote is calling on the European Commission to include an additional permanent instrument to enable the EU to better adapt and quickly react to current and emerging challenges as well as their social and economic impact on European citizens and the economy. According to the Socialists and Democrats, the profound reform they call for would be incomplete without this new permanent instrument. This should enable the EU to confront upcoming challenges and ensure greater transparency and democratic accountability.

Margarida Marques, MEP and S&D co-rapporteur on the reform of the EU pluriannual budget, said:

“The current EU pluriannual budget is already being pushed to its limits less than two years after its adoption. We have to change its structure, increase its size and update its rules. With today’s vote in the plenary of the European Parliament, we are asking the European Commission to present an ambitious proposal for the revision of the EU pluriannual budget 2021-2027, also known as the MFF - the Multiannual Financial Framework.

“We want the creation of a permanent special instrument within the MFF but over and above the ceilings to address current and future crises in a more effective and swift manner. We also want to protect the cohesion policy, currently used to compensate all needs that arise from crises in the EU. Cohesion policy is not a crisis mechanism, it is an investment instrument and has to remain as such.

“Steps like the Next Generation EU go in the right direction. We live in extremely turbulent times and we have to move from solving huge problems on a case-by-case basis to more structural solutions.

“We also call for fresh funding for new additional policy priorities that have emerged since the current MFF was agreed, such as the Sovereignty Fund or the implementation of the Chips Act.

“We should take all the lessons learnt from the implementation of the Next Generation EU and the EU’s response to the Covid-19 crisis to make sure that at the next critical juncture, the Union will be prepared and ready to respond to its citizens’ needs.”

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