As negotiations for the next multi-annual European budget and the recovery plan resume, S&Ds call on the European Council to raise its ambition for a new sustainable system of own resources. In a vote in the committee on budgets today, the Socialists and Democrats will support proposals for new, and innovative additional sources of income for the EU budget. The Group backs the European Parliament’s proposals for new revenues stemming from: a common consolidated corporate tax base; digital services taxation; a financial transaction tax; a carbon border tax; contributions based on non-recycled plastic waste; and the Emissions Trading Scheme.
Eider Gardiazabal, S&D Group spokesperson for budget, stated:
“What Charles Michel presented in July as a ‘negobox’, that includes own resources, is clearly insufficient. If the Council expects that the money drawn in from a plastic tax, the Carbon Adjustment Mechanism and a digital levy would be enough to finance the Union’s need for extra funding, they are undoubtedly mistaken.
“Our Group’s proposal is much more elaborate, and strategic, and would provide the EU with the better tools needed to cope with the effects of the pandemic, while ensuring that its current projects are not overlooked. We urge the European Council to rethink its stance and think of the people!”
Elisabetta Gualmini, S&D spokeswoman on own resources, stated:
“European leaders need to understand that now is the chance to give the EU the power to finance the recovery plan and help its citizens, and not the time to put a bigger burden on them. Almost 70% of the European budget is currently financed by national contributions. For the EU to claim its operational legitimacy, this must change! With today's vote we propose to establish a legally binding calendar for the introduction of an ambitious basket of own resources which shall be linked to the implementation of European policies. Moreover, the purpose of these policies is to achieve sustainable and inclusive growth. It’s a win-win!
“Protecting the environment, ensuring social equity and making sure that we promote a fairer internal market are the cornerstones of our Group’s proposal for a new system of own resources.”
Note to editors:
You can read all the S&D Group’s proposals for own resources.