Barroso tables €1 trillion budget for EU until 2020

The European Commission presented on the 29 June 2011 its long-awaited proposals for the EU's next seven-year budget (2014-2020). In a bid to reduce national contributions, the Commission suggested levying new taxes directly, a proposal that was strongly rejected by the UK, which labelled it 'unrealistic'.

The proposals also contained a bid to move some €58bn in European spending off the budget, holding down the headline number by moving funding for certain programmes outside the official €972bn figure.

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