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Wednesday, 04 December 2013

Council adopts the multiannual financial framework 2014-2020

The Council adopted on Monday 2nd December the regulation laying down the EU's multiannual financial framework (MFF) for 2014-2020 (11791/7/13). This follows the European Parliament's consent of 19 November. Today's decision marks the end of two and a half years of negotiations and allows the new generation of EU spending programmes to be implemented as from 1 January 2014.
The MFF regulation enables the European Union to spend up to EUR 959.99 billion in commitments and EUR 908.40 billion in payments over the next seven years. This is 3.5% and 3.7% respectively less than under the MFF 2007-2013, ensuring budgetary discipline for the EU and reflecting the particular budgetary pressure that mem ber states currently face at national level.
A strong emphasis is put on expenditure aimed at boosting growth and creating jobs, in line with the political priorities of the EU: the expenditure ceiling for sub-heading 1a ("competitiveness") is increased by more than 37% compared to the current MFF.
Apart from ensuring budgetary discipline for the European Union and translating political priorities into figures the MFF's aim is also to facilitate the adoption of the EU annual budget. For 2014 the new MFF has already fulfilled this purpose: on the basis of the political agreement on the MFF 2014-2020 reached in June, the Conciliation Committee agreed on next year's budget on 12 November

Source: Council of the EU