Did you Know?

On 11 November the Council and the European Parliament agreed on the 2014 EU budget and on the financing of €400.5 million to address damages from natural disasters in four member states.

EDC News: The EU Budget

The Commission’s budget is broken down into approximately 30 policy areas or activity areas, in what is known as 'activity-based budgeting' (ABB). The policy areas (research, employment, etc.) are closely related to the headings in the financial framework:

  • Sustainable growth, including:

    • Competitiveness for growth and employment – includes research and innovation, education and training, trans-European networks, social policy, economic integration and accompanying policies.

    • Cohesion for growth and employment – includes convergence of the least developed EU countries and regions, EU strategy for sustainable development outside the least prosperous regions and inter-regional cooperation.

  • Preservation and management of natural resources – Includes common agricultural policy, common fisheries policy, rural development and environmental measures.

  • Citizenship – includes public health, consumer protection, culture, youth, information and dialogue with citizens.

  • Freedom, security and justice – includes justice and home affairs, border protection, immigration and asylum policy.

  • EU as global player – Includes all external action ("foreign policy") by the EU. This does not include the European Development Fund as the European Council and Parliament rejected a Commission proposal to include it in the EU budget.

  • Administration of expenditure of all the European institutions, pensions and EU-run schools for staff members' children.

  • Compensations – includes compensatory payments relating to the latest expansion of the EU.

The European Commission has a Multiannual Framework which prioritises the budget spending under the above headings. Currently the European Union’s focus is to deliver on smart, sustainable and inclusive growth and for providing solidarity between Member States and regions. With this in mind the Commission has decided that the main priorities for the 2014 Budget, are to reinforce the EU budget contribution for growth and jobs. This will be done through a new Youth Employment Initiative (YEI) targeting young unemployed people, those in education or training. Also, through a new joint initiative with the European Investment Bank (EIB) to support access to finance for small and medium-sized enterprises SMEs).

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