European Parliament, Council, Commission Start Talks On Long-Term EU Budget - Official

BRUSSELS (Pakistan Point News / Sputnik - 28th August, 2020) Representatives of the European Parliament, Council of the European Union and the European Commission started the first round of negotiations on the long-term 2021-2027 EU budget, the parliament's Budget Committee Chair Johan Van Overtveldt said.

"There needs to be adequate funding for EU flagship programmes such as the ones for research or the young, that are important for Parliament. There needs to be progress on the Own Resources - the EU's revenue - and on the Rule of Law, on the role of the budgetary authority and on certain horizontal issues like, for example, climate. So all these elements are on the table. We had a good discussion so far already today. And I'm pretty sure that in the coming weeks we can continue that positive and constructive way of dialogue," Van Overtveldt said.

In July, the EU leaders reached an agreement on a long-term budget and a recovery package to help the economy deal with consequences of the coronavirus pandemic. The EU budget for the next seven years was set at 1.07 trillion Euros, and European Parliament President David Sassoli has said that lawmakers approve the recovery plan but think that the long-term budget requires some adjustments. In particular, the parliament is against cutting the financing for research and youth programs.

The EU long-term financial plan has to be adopted by the end of the year, and the parliament's consent is necessary. The members of the parliament's Committee on Budgets are expected to discuss the results of the first round of talks during a season on September one.