EC transmits new budget proposal to Parliament and Council
On Friday, 28 November 2014, the European Commission adopted a new draft budget for 2015. This new budget proposal was required because conciliation negotiations between the European Parliament and the Council on the first draft budget (presented on 11 June 2014) did not reach an agreement within the conciliation period provided (17 November 2014). The draft budget has been transmitted to the European Parliament and the Council, with a view to continuing negotiations this week.
The new draft budget for 2015 foresees €145.2 billion in commitments (+1.8% on 2014) and €141.3 billion in payments (+0.7% on 2014) and tries to take into account both the views of the EP and of the Council, according to Ms Kristalina Georgieva, EC Vice President for Budget and Human Resources. The proposal also includes Draft Amending Budgets for 2014 to cover legal obligations in research and innovation, education and support for small and medium-sized enterprises, as well as unusually high reimbursement claims from Member States in cohesion policy. According to the Commission, the Draft Amending Budgets would come at no extra cost to national budgets, because of unexpected revenue, mostly from competition fines.
The EP, the Council and the Commission will discuss the new draft budgets in a series of meetings ("trilogues"), striving to reach an agreement in time for the European Parliament to formally adopt the 2015 EU budget at its last 2014 plenary session. If they fail to reach an agreement by 31 December 2014, the EU would then operate on the basis of the "provisional twelfth", i.e. budget appropriations for each chapter of the budget would be funded monthly by one twelfth of its 2014 budget or the relevant amount in the 2015 draft budget, whichever is less.
For further information: http://europa.eu/rapid/press-release_IP-14-2233_en.htm