(02 May 2017) – The European Commission today proposed a global budget of 1.279 billion, or 1.11% of the EU27 Gross National Income, for the period 2021-2027. Cuts are proposed in the Common Agricultural Policy and the Cohesion Policy.
At a time when Brexit will leave a sizeable gap in the EU budget, the Commission proposes a long-term budget of €1,135 billion in commitments. This level of commitments translates into €1,105 billion (or 1.08% of Gross National Income) in payments.
It suggests a 5% reduction in funding for the CAP and cohesion policy to take account of the new reality. However, additional resources are proposed for border surveillance, security, research and digitisation.
A major innovation in the proposed budget is a new mechanism that would allow the Union to “suspend, reduce or restrict access to EU funding in a manner proportionate to the nature, gravity and scope of the rule of law deficiencies.”