2021-2027 MFF

In “An Economy that Works for People”

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For a brief overview of the key points of the adopted text and its significance for the citizen, please see the corresponding summary note.

The final agreement

The final steps of the procedure, i.e. consent vote in the European Parliament and unanimous vote in the Council, were delayed by a month due to the dispute around the mechanism linking the EU budget with the rule of law. It was only on 10 December 2020 that the Member States leaders found a solution and unblocked the procedure.

On 14 December 2020, the European Parliament Committee on Budget (BUDG) adopted the draft recommendation on the draft Council regulation laying down the multiannual financial framework for 2021-2027 and the joint interinstitutional declarations annexed to it (30 votes in favour, 2 against and 4 abstentions). As part of the overall agreement, the members of the Committee on Constitutional Affairs (AFCO) adopted the interinstitutional agreement on budgetary matters (23 in favour, 3 against, 2 abstentions).

On 16 December 2020, the European Parliament gave its consent to the regulation on the 2021-2027 MFF. In the resolution on the Multiannual Financial Framework 2021-2027, the InterInstitutional Agreement, the EU Recovery Instrument and the Rule of Law Regulation, the Parliament emphasised that (inter alia):

  • the financial package agreed has a historic importance, it will amount to €1.8 trillion and include the MFF 2021-2027 (€1074 billion moving progressively to €1085 billion) coupled with the Recovery Instrument (€750 billion);
  • an effective Rule of Law Regulation and the introduction of new own resources were a pre-condition of the European Parliament to agree with the MFF package;
  • it regrets that, due to the unanimity rule in the Council, the adoption of the entire package, including the new EU programmes for the period 2021-2027, cause unduly delay for the entire process;
  • the overcoming of the hurdles posed by unanimity requirement in Council regarding the adoption of the MFF and own resources decision, among other instances, shall be addressed in the upcoming Conference on the Future of Europe.

On 17 December, after receiving the Parliament’s consent, the Council adopted unanimously the MFF regulation and recovery package.

Visit the European Parliament homepage on the EU's long term budget 2021-2027 , 'The EU's long term budget explained', and the EPRS blog on the MFF.

References:

Further readings:

Author: Magdalena Sapala, Members' Research Service, [email protected]

Visit the European Parliament homepage on the EU's long term budget 2021-2027 ,'The EU's long term budget explained' and the EPRS blog on the MFF.

 

 

As of 20/10/2024.