Today, the European Parliament adopted its position on the next EU long-term budget, the Multiannual Financial Framework. Its position called for an increased overall MFF budget, including for its external action, and supported proposals for EU own resources.
In response, Hanna Saarinen, Oxfam EU Development Finance Policy Lead, said:
“Today’s vote sent a clear signal to EU governments: Europe needs a bigger budget and new funding streams to back it up.
“There are workable options to do this. Taxes on high-emitting sectors, such as aviation and fossil fuels, as well as on extreme wealth, can raise revenue along with boosting Europe’s ambitions at home and abroad. The challenge now is for EU governments to agree on how to fund it and resist the urge to squeeze aid or climate budgets.
“Cutting Europe’s external budget will not make crises disappear, it will just make Europe less relevant: neither a player nor a payer.”
Notes to editors
Today, MEPs voted on the European Parliament’s position on the EU’s long-term budget (the so-called Multi-Annual Financial Framework).
It is expected that in June, EU governments will negotiate the indicative figures with negotiations wrapping up by the end of the year.
The Interim Report:
- Calls for new sources of EU revenue, i.e. own resources, of at least €60 billion per year to support an ambitious MFF 2028–2034;
- Proposes increasing the budget for the Global Europe instrument to €225 billion (current prices) calling its reinforcement as “absolutely crucial”;
- Calls for at least €25 billion for humanitarian aid; and
- States that Parliament will only approve a budget with proper and sustainable revenue.
Beyond existing proposals for new EU own resources, Oxfam calls for aviation taxes and levies on the profits and ownership of the fossil fuel industry, as well as taxes on extreme wealth.
According to Oxfam’s research, a progressive wealth tax of up to 5% on EU multi-millionaires and billionaires could raise an estimated €286.5 billion annually.
Contact information
Jade Tenwick in Brussels | jade.tenwick@oxfam.org | Work: +32 473 56 22 60 | Weekends/Outside of Work Hours: +32 484 81 22 94
Today, MEPs voted on the European Parliament’s position on the EU’s long-term budget (the so-called Multi-Annual Financial Framework).
It is expected that in June, EU governments will negotiate the indicative figures with negotiations wrapping up by the end of the year.
The Interim Report:
- Calls for new sources of EU revenue, i.e. own resources, of at least €60 billion per year to support an ambitious MFF 2028–2034;
- Proposes increasing the budget for the Global Europe instrument to €225 billion (current prices) calling its reinforcement as “absolutely crucial”;
- Calls for at least €25 billion for humanitarian aid; and
- States that Parliament will only approve a budget with proper and sustainable revenue.
Beyond existing proposals for new EU own resources, Oxfam calls for aviation taxes and levies on the profits and ownership of the fossil fuel industry, as well as taxes on extreme wealth.
According to Oxfam’s research, a progressive wealth tax of up to 5% on EU multi-millionaires and billionaires could raise an estimated €286.5 billion annually.
Jade Tenwick in Brussels | jade.tenwick@oxfam.org | Work: +32 473 56 22 60 | Weekends/Outside of Work Hours: +32 484 81 22 94