EU Ministers Meet in Brussels as Budget Talks Intensify
Thomas Byrne said the package could add CBAM, parcel and crypto levies as EU leaders seek a budget deal by year-end.
- Irish Minister for European Affairs Thomas Byrne announced on Monday that the forthcoming European Union long-term budget draft will include "ambitious" new tax proposals, known as "own resources," to help reach a deal by year-end.
- Negotiating the €2 trillion European Union budget proposed by the European Commission has divided the 27 member states into two opposing camps: "frugal" nations seeking spending cuts and The "Friends" group protecting agriculture and regional development funding.
- The "frugal" bloc of German, Finland, Austria, and Denmark seeks to reduce overall spending, while 17 member states including Spain, Italy, Poland, Hungary, and Portugal oppose cuts; Cyprus proposed a €32.8 billion reduction to bridge the divide.
- Byrne said "Own resources are part of the solution," specifying that all proposals including the Carbon Border Adjustment Mechanism and Emissions Trading System remain on the table before the European Council meeting in Brussels.
- Missing an agreement by year-end would "undermine Europe's credibility," Byrne warned, as both the 27 member states and the European Parliament must provide final consent for the long-term budget package to succeed.
23 Articles
23 Articles
The President of the European Council, Antonio Costa, stated that any plan to reduce the next seven-year budget of the European Union risked opposition from EU governments." It is easy to say, "I want to reduce the total volume."
The president of the European Council visited 25 capitals and urged governments to relax red lines to guarantee a budget agreement. In other words: Member States must give up recipes to make them common. Tobacco is an example.
Brussels would try to raise additional resources for the next seven-year budget with new EU taxes, but member states would only support charges that do not reduce national tax revenues already collected. One new direction in the negotiations could be to tax e-cigarettes and cryptocurrencies, which are not currently subject to similar public charges in several countries. António Costa said member states must reach an agreement by October if they …
The President of the European Council, Antonio Costa, claims that the future budget of the European Union needs new sources of income, which do not overlap with taxes already collected by national governments. In an interview given Politico, after a tour in 25 European capitals, Costa explained that such a mechanism could facilitate agreement on the budget for the period 2028-2034.
Coverage Details
Bias Distribution
- 57% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
