Agreement on EU budget for 2006

The European Parliament adopted the EU 2006 budget in Strasbourg on the 16 December 2005 after a tough budgetary procedure. The two arms of the budgetary authority were at odds over the ambition of next year's budget. It took two conciliations to finalise a package which set payments at €111.969bn in payments or 1.01% GNI for 2006 as well as special financing arrangements for the EU's external action.