The EU plans its spending within seven-year multi-annual financial frameworks (MFFs) and as the 2007 to 2013 MFF is drawing to a close, it is currently devising and agreeing the MFF for the period 2014 to 2020. To be concluded between the European Parliament, Council and European Commission, this sets the maximum amount of commitment appropriations in the EU budget for broad policy areas and fixes an overall annual ceiling on spending. The main details are set out in two documents. The main details are set out in two documents: A Budget For Europe 2020 – Part I – Communication A Budget For Europe 2020 – Part II – Policy Fiches.
The former gives the main outline of the budget and explains that it is to focus on smart, sustainable and inclusive growth. The Commission is accordingly proposing to increase the amounts allocated to research and innovation, education and SME development and it stressed: “The EU budget we propose will not cost taxpayers more than at present. But it will give them more in return. We are modernising the European budget to make savings in some areas so we can spend more in the priority areas that really matter.” In broad terms, the EU Budget spends about 1% of the Union’s GDP.
In EU-speak the second document sets out the “fiches” (files) which explain the main policy areas where the Union will be committing resources during the 2014 to 2020 MFF.
You can read the document here: HORIZON_2020
