The next generation of own resources for the EU budget
COTER-VII/021
The next generation of own resources for the EU budget
provide the perspective of subnational authorities in the ongoing discussion on Own Budgetary resources
assure the continuity of key ESIF programmes relevant for EU's LRA's
assure the continuity of key ESIF programmes relevant for EU's LRA's
The opinion has highlighted at a very early stage the issue related to the cost of repaying the NGEU debt which is now becoming an important part of the debate related to the Mid-term Review of the Multiannual Financial Framework as well as to the Multiannual Financial Framework for the 2028-2034 period.
THE EUROPEAN COMMITTEE OF THE REGIONS
- notes the Commission's proposal to introduce three new own resources for the EU budget, but remains deeply worried about the lack of credible impact assessment as to incurred costs of these measures for European companies and consumers;
- stresses the need to establish new resources not only to repay the NGEU debt but also to increase the EU budget's financial autonomy in a permanent way and to reduce Member States' incentives to adopt a "just retour" mindset; the own resources should be established in a sustainable way for the Member States' budgets;
- notes that the introduction of a first basket of new own resources in 2023, in line with the roadmap established in the Interinstitutional Agreement of 16 December 2021, will send a positive message to investors on the financial markets and rating agencies; recalls that sufficient proceeds from new own resources are essential to guarantee the repayment of the NGEU debt without jeopardizing EU programmes in the next MFF;
- points out that, overall, the three new own resources proposed will yield up to EUR 17 billion per year from 2026 to 2030 according to European Commission estimates; notes that this amount will be insufficient to cover both the costs of repaying the NGEU debt (EUR 15 billion/year) and finance the Social Climate Fund (EUR 9.7 billion/year); underlines, therefore, that additional new own resources will be needed; Underlines the importance of territorial impact assessments and calls on the Commission to take this into account when presenting new own resources.
- notes the Commission's proposal to introduce three new own resources for the EU budget, but remains deeply worried about the lack of credible impact assessment as to incurred costs of these measures for European companies and consumers;
- stresses the need to establish new resources not only to repay the NGEU debt but also to increase the EU budget's financial autonomy in a permanent way and to reduce Member States' incentives to adopt a "just retour" mindset; the own resources should be established in a sustainable way for the Member States' budgets;
- notes that the introduction of a first basket of new own resources in 2023, in line with the roadmap established in the Interinstitutional Agreement of 16 December 2021, will send a positive message to investors on the financial markets and rating agencies; recalls that sufficient proceeds from new own resources are essential to guarantee the repayment of the NGEU debt without jeopardizing EU programmes in the next MFF;
- points out that, overall, the three new own resources proposed will yield up to EUR 17 billion per year from 2026 to 2030 according to European Commission estimates; notes that this amount will be insufficient to cover both the costs of repaying the NGEU debt (EUR 15 billion/year) and finance the Social Climate Fund (EUR 9.7 billion/year); underlines, therefore, that additional new own resources will be needed; Underlines the importance of territorial impact assessments and calls on the Commission to take this into account when presenting new own resources.
