Financing a better Europe

Financing a better Europe

The S&D Group does not believe that a narrow-minded economic policy based on harsh austerity is the way to get out of the current economic and financial crisis. Instead, we think that the EU budget should be a crucial tool for co-ordinating and enhancing national efforts to return to growth and create jobs.

EU spending is agreed as a yearly budget, which follows the rules and guidelines laid down in a longer-term plan: the multi-annual financial framework (MFF). This long-term spending plan is part of a comprehensive package which also includes the EU’s ‘own resources’ (the EU’s revenue). 

We are concerned that the current MFF is falling short of EU ambitions and political priorities and therefore we believe that the EU should push for desperately needed reforms. The current framework covers the period 2014-2020, but we expect there to be an opportunity for some much-needed changes to the way the MFF functions and we will push to make sure every cent is well spent.