Summary
An agreement between EU institutions to improve budget discipline and introduce new ways for the EU to generate its own money, specifically to repay recovery funds. 10 16.12.2020
Other
economy
finance
european union
budgetary control
administrative reform
simplification of legislation
public finance and budget policy
Key points
- The agreement establishes a framework for cooperation between the EU's main institutions regarding budget management.
- A new revenue source based on non-recycled plastic packaging waste was scheduled for introduction in early 2021.
- Proposals for a carbon border adjustment mechanism and a digital levy were aimed for introduction by early 2023.
- Additional revenue sources, potentially including a financial transaction tax, are planned for introduction by 2026.
Documents (PDFs)
REPORT on conclusion of an Interinstitutional Agreement between the European Parliament, the Council of the European Union and the European Commission on budgetary discipline, on cooperation in budgetary matters and on sound financial management, as well as on new own resources, including a roadmap towards the introduction of new own resources
Interinstitutional Agreement on budgetary discipline, on cooperation in budgetary matters and on sound financial management, as well as on new own resources, including a roadmap towards the introduction of new own resources
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