Belgium: EU unveils €1.279 trillion post-Brexit budget plan

The president of the European Commission Jean-Claude Juncker and Budget Commissioner Guenther Oettinger unveiled their first proposal of the new EU budget on Wednesday during an European Parliament plenary session in Brussels. The ambitious plan seeks to overcome Brexit and the UK's contribution to the EU budget by having a €1.279 trillion spending plan for the new budget circle (from 2021 to... Еще 2027). This new ambitious plan comes with some safeguards, as Juncker said: «We are proposing a new mechanism, which will allow for the protection of the budget, linked to risks arising from deficiencies in the rule of law. This is a genuinely applicable mechanism and does not target particular member states and it is an important part of the new EU budget architecture.» The Budget Commissioner Guenther Oettinger underlined the major problems that the Commission faced when drawing up the budget: «In preparing this multiannual financial framework for seven years, there are two basic problems that were faced with. First of all, the gap being left by the departure of the United Kingdom and new tasks that we recognised as being ones that should be resolved at the European level.» Oettinger also commented on the rising importance of defence and security spending: «On the basis of PESCO [Permanent Structured Cooperation] and the defence programme, we do not just want to propose that the European Union sets aside 500 million for defence research, we want a billion invested in those industries. We want that increased so that by the end of this MFF [Multiannual Financial Framework] we have two billion going to the defence industry, in conjunction with our member states, so that we can see double digits being invested there.»

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