Latest news with #PiotrSerafin
Irish Times
6 days ago
- Business
- Irish Times
Plan to overhaul EU's sacred CAP cow a risky move
There was only a couple of minutes between the European Commission 's number-cruncher Piotr Serafin addressing MEPs about the next EU budget, and his boss Ursula von der Leyen briefing journalists, but somehow €40 billion went missing. Serafin, the commissioner responsible for the EU's budget, told the European Parliament that €451 billion was to be set aside for a new 'competitiveness fund' to boost the union's stalling economy. When commission president von der Leyen kicked off a press conference very shortly after, she announced the competitiveness fund would be worth €410 billion. Confusion over shifting figures, both publicly and during back room negotiations, has overshadowed the nearly €2 trillion budget the commission has put on the table. The money will mainly come from national contributions, plus separate levies and taxes. READ MORE There is always a fight between the commission, the European Parliament , and national capitals over the size of the package. Von der Leyen's proposal is just the start of a two-year arm wrestle to agree the next EU budget, which will run from 2028 until 2034. The EU's powerful executive arm wants more cash for defence, border control, Ukraine, and its new competitiveness fund. The final budget proposal was the product of several intense weeks of negotiation inside the commission's Berlaymont headquarters, between von der Leyen and the other 26 commissioners. The heads of each commissioner's team had been locked in marathon talks since the start of this week. They were still going at it when von der Leyen poked her head in the door after midnight, in the early hours of Wednesday. It is understood EU commissioners were given a final figure for how much money they had secured for their portfolios, and the full budget picture, only a few hours before it was announced. [ Proposed €2tn EU budget would increase funding for defence Opens in new window ] The most controversial element of the proposal is the commission's plan to overhaul the bloc's big funding schemes. Income subsidies paid to farmers under the Common Agricultural Policy (CAP) , 'cohesion' funding for roads and development projects in poorer regions, and many other schemes and grants, would all be rolled into one big national pot of money for each EU member state. Changes to CAP, a politically sacred cow that has been a feature of the EU for more than 60 years, comes with a lot of risk. About €300 billion will be ring-fenced in the next budget for direct payments to farmers. CAP makes up about a third of the current €1.2 trillion budget, costing €378 billion in total. Von der Leyen and agriculture commissioner Christophe Hansen both insist the reforms do not represent cuts to the income farmers receive from the EU. Organisations representing farmers are not so sure. There is uncertainty about the amount of money that will be put aside for rural development funding and schemes promoting more environmentally conscious farming. Farmers are concerned the size of the CAP budget could be slimmed down by stealth over time, if it becomes part of a national fund rather than a stand-alone entity. [ Tech firms, multinationals in firing line as EU draws up list for potential US service tariffs Opens in new window ] The commission will have a tough time getting the proposed changes past the European Parliament and the 27 national capitals, which all have to approve the budget. Governments in EU states with powerful farming lobbies, such as France, Poland and Ireland, will face huge pressure to protect CAP funds. MEPs across the floor of the European Parliament have also kicked up about the changes. Siegfried Mureșan, the parliament's chief negotiator on the budget, said MEPs would 'reject any budget that fails to ringfence sufficient funding for both the Common Agricultural Policy and cohesion policy'.
Saudi Gazette
7 days ago
- Business
- Saudi Gazette
EU budget: Parliament revolts against Commission proposal
BRUSSELS — The European Parliament's members are deeply unsatisfied with the proposal for a seven-year budget, the Multiannual Financial Framework (MFF) put forward by the European Commission on Wednesday and have threatened at the outset not to enter into negotiations on the paper. The level of information provided by Budget Commissioner Piotr Serafin in a briefing to MEPs from the Parliament's Committee on Budgets (BUDG) on Wednesday was deemed unsatisfactory by most. 'Commission President's Ursula von der Leyen is giving a press conference and she is giving to the press more information than you to us,' lamented Belgian MEP Johan Van Overtveldt, the committee's chair. Some of his colleagues underlined the lack of figures, official documents, and explanatory materials from the Commission to prepare for the discussion with the Commissioner. Commissioner Serafin, who acknowledged the discontent, said that he had left the decision-making meeting of the Commission early to be present at the Parliament and to present the proposal there first, "in recognition of [Parliament's] role". MEPs were also very critical of the content of the proposal, which amounts to almost €2 trillion, or 1.26% of the EU's gross national income. 'For sure, this is not a 'historic budget' as the European Commission is attempting to present it. It is at the same level as the budget of the EU in the previous seven years,' Siegfried Mureșan, one of the rapporteurs for the MFF in the Parliament, from the European People's Party (EPP), said during a press conference.'The attempt of the Commission to convince us that this budget is a significant increase is misleading. The increase is coming only for the adjustment to the inflation rate and it is only coming because we have to pay back the Next Generation EU fund,' he said, referring to the extraordinary funding lines furnished to recover following the COVID-19 many of his colleagues, Mureșan also believes that key demands from the Parliament have been ignored. One of the most contentious points concerns the so-called 'National and Regional Partnership Plans', under which the EU funds will be disbursed. 'This proposal is an attempt to renationalise the EU,' he told Commissioner Serafin and repeated in the press opposition to national plans was reiterated in a statement from the leaders of the Parliament's so-called centrist majority groups—EPP, Socialists and Democrats, Renew Europe, and Greens/EFA. They believe that the national plans would give more power to the member states to deal directly with the Commission, bypassing the Parliament's role.'The European Parliament will not accept any reduction of Parliamentary oversight and the legitimate democratic control and scrutiny over the EU spending,' read the problematic issue is the merging of cohesion and agricultural funds, which most MEPs would like to see funded under a separate budget line and legal received was the proposal on 'own resources'—taxes imposed at the EU level that should generate €58.5 billion per year, according to the Commission. Several MEPs endorsed the idea of increasing revenues by imposing duties on tobacco products and taxing companies with a net annual turnover of at least €100 MFF requires the regulatory consent of the European Parliament in addition to the unanimous consent of the EU member states to be approved: a majority of MEPs must therefore approve the final text for it to enter into this stage, the Parliament may also refuse to enter into talks, the rapporteurs have threatened. MEPs could approve a resolution asking the Commission to withdraw its proposal and present a new basis for this would be a last resort, as co-rapporteur Carla Tavares from the Socialists and Democrats told Euronews. 'We want to put pressure and work with the Commission in order to find a compromise acceptable to all.' — Euronews
Free Malaysia Today
7 days ago
- Business
- Free Malaysia Today
EU unveils blueprint for boosted €2tril budget
The European Commission also proposed establishing a fund of up to US$115 billion to support war-torn Ukraine. (EPA Images pic) BRUSSELS : The EU executive proposed today a long-term budget boosted to €2 trillion as Europe confronts complex challenges from overseas competition to Russian aggression at its borders. EU budget commissioner Piotr Serafin unveiled a funding plan for 2028-2034 that aims to foster the bloc's economic competitiveness, support Ukraine and satisfy traditional beneficiaries of European money, such as farmers. 'The next MFF will be the most ambitious ever proposed. It is more strategic, more flexible, more transparent,' EU chief Ursula von der Leyen said, using the bloc's acronym for the budget. The proposal is to kickstart two years of tense negotiations with the EU's 27 member states and lawmakers in Brussels. Serafin said that under the commission's plans, €300 billion (US$347 billion) will be ringfenced to support farmers, who have been worried about potential cuts to their slice of the pie. A competitiveness fund bringing together EU investment efforts in clean tech, digital, biotech, defence, space and food will amount to €451 billion, he said at the European Parliament. The European Commission also proposed establishing a fund of up to €100 billion (US$115 billion) to support war-torn Ukraine. 'This is a long-term commitment to Ukraine's recovery and reconstruction,' Serafin said. And as Europe pushes to re-arm, the amounts dedicated to defence and space will increase five-fold to €131 billion. Similarly, the sums dedicated to military mobility under a separate pot dedicated to investment in infrastructure will go up 10-fold, he said. The previous 2021-2027 budget was worth around €1.2 trillion.
DW
7 days ago
- Business
- DW
EU unveils €2-trillion budget proposal – DW – 07/16/2025
The EU's proposed budget from 2028 onwards includes €100 billion for the economic reconstruction of Ukraine, but also aims to protect farmers and boost investments in modern technologies. The European Union's executive branch, the European Commission, on Wednesday presented its proposal for a significant budget increase to €2 trillion ($2.33 trillion) for the period 2028-2034. The figure represents an €800-billion ($930-billion) increase on the current budget of €1.2 trillion as the bloc looks to confront challenges including migration, digital regulation, overseas competition and Russian aggression. "It's a budget for a new era," wrote Commission President Ursula von der Leyen on the microblogging platform. "[A budget] that matches Europe's ambition, addresses Europe's challenges [and] strengthens our independence." The Commission itself described the proposal as "the most ambitious EU budget ever: more strategic, flexible and transparent." The EU budget, officially known as the multi-annual financial framework (MFF), spells out the bloc's policy priorities for the coming years and how much money is allocated to different areas. In the draft proposal presented to the European Parliament in Brussels by EU budget commissioner Piotr Serafin on Wednesday, the largest tranche of money will be allocated to a national and regional partnership fund worth €865 billion. A further €451 billion will be ringfenced for EU investment efforts in clean tech, digital, biotech, defense, space and food, while around €300 billion will be go to support farmers, who have been worried about potential cuts to subsidies. Up to €100 billion ($116 billion) is to be set aside specifically for Ukraine, over three years on from Russia's full-scale invasion. "This is a long-term commitment to Ukraine's recovery and reconstruction," Serafin said. The EU budget is largely financed through contributions by member states. As the EU country with the largest economy, Germany usually contributes just under a quarter of the available funds. According to Wednesday's draft, however, the proposed increase could in part be financed by new revenue sources such as a levy on large companies with an annual turnover of more than €50 million or a share of national tobacco taxes. The draft budget will now form the basis for negotiations between the EU Commission, the EU Parliament and members states, which are likely to be lengthy and contentious. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video
Euronews
7 days ago
- Business
- Euronews
EU budget: Parliament revolts against Commission proposal
The European Parliament's members are deeply unsatisfied with the proposal for a seven-year budget, the Multiannual Financial Framework (MFF) put forward by the European Commission on Wednesday and have threatened at the outset not to enter into negotiations on the paper. The level of information provided by Budget Commissioner Piotr Serafin in a briefing to MEPs from the Parliament's Committee on Budgets (BUDG) on Wednesday was deemed unsatisfactory by most. 'Commission President's Ursula von der Leyen is giving a press conference and she is giving to the press more information than you to us,' lamented Belgian MEP Johan Van Overtveldt, the committee's chair. Some of his colleagues underlined the lack of figures, official documents, and explanatory materials from the Commission to prepare for the discussion with the Commissioner. Commissioner Serafin, who acknowledged the discontent, said that he had left the decision-making meeting of the Commission early to be present at the Parliament and to present the proposal there first, "in recognition of [Parliament's] role". MEPs were also very critical of the content of the proposal, which amounts to almost €2 trillion, or 1.26% of the EU's gross national income. 'For sure, this is not a 'historic budget' as the European Commission is attempting to present it. It is at the same level as the budget of the EU in the previous seven years,' Siegfried Mureșan, one of the rapporteurs for the MFF in the Parliament, from the European People's Party (EPP), said during a press conference. 'The attempt of the Commission to convince us that this budget is a significant increase is misleading. The increase is coming only for the adjustment to the inflation rate and it is only coming because we have to pay back the Next Generation EU fund,' he said, referring to the extraordinary funding lines furnished to recover following the COVID-19 pandemic. Like many of his colleagues, Mureșan also believes that key demands from the Parliament have been ignored. One of the most contentious points concerns the so-called 'National and Regional Partnership Plans', under which the EU funds will be disbursed. 'This proposal is an attempt to renationalise the EU,' he told Commissioner Serafin and repeated in the press conference. This opposition to national plans was reiterated in a statement from the leaders of the Parliament's so-called centrist majority groups—EPP, Socialists and Democrats, Renew Europe, and Greens/EFA. They believe that the national plans would give more power to the member states to deal directly with the Commission, bypassing the Parliament's role. 'The European Parliament will not accept any reduction of Parliamentary oversight and the legitimate democratic control and scrutiny over the EU spending,' read the statement. Another problematic issue is the merging of cohesion and agricultural funds, which most MEPs would like to see funded under a separate budget line and legal base. Better received was the proposal on 'own resources'—taxes imposed at the EU level that should generate €58.5 billion per year, according to the Commission. Several MEPs endorsed the idea of increasing revenues by imposing duties on tobacco products and taxing companies with a net annual turnover of at least €100 million. The MFF requires the regulatory consent of the European Parliament in addition to the unanimous consent of the EU member states to be approved: a majority of MEPs must therefore approve the final text for it to enter into force. At this stage, the Parliament may also refuse to enter into talks, the rapporteurs have threatened. MEPs could approve a resolution asking the Commission to withdraw its proposal and present a new basis for negotiations. But this would be a last resort, as co-rapporteur Carla Tavares from the Socialists and Democrats told Euronews. 'We want to put pressure and work with the Commission in order to find a compromise acceptable to all.'
