At a one-day workshop on the EU's next multiannual financial framework, organized by the Breugel think tank in Brussels, Giacomo Benedetto, Jean Monnet Chair at Royal Holloway, University of London, provided his analysis of the budgetary proposals that the European Commission had made on 2 May 2018. Dr Benedetto's observations were based on his published work on the budget and participation as a co-author of an EU study on the potential and limitations of reforming the financing of the EU budget, drawn up for the High Level Group on Own Resources. Dr Benedetto concluded that the proposals were a creative way forward through the Brexit financing gap for the budget and to meet investment for the future in R&I, education and public goods, while meeting a strong commitment to continue to support the agricultural sector and regions that are struggling economically. Although it may seem that the proposals for changing the financing of the budget (its revenue) lack ambition, they still propose to draw on new sources of revenue to make up for some of the shortfall in the UK contribution. Other participants in the workshop included EU and national level officials.
Wednesday, 16 May, 2018