An adjusted package for the next generation of own resources

Summary:

Communication adopted by the European Commission on 20 June 2023, setting out the overview to a legislative package introducing a new generation of own resources for the European Union (EU).

Further information:

The EU institutions agreed on a roadmap for the introduction of new own resources in 2020, taking account of NextGenerationEU. In the following year, the European Commission proposed three new sources of revenues for the EU budget with contributions from the Emissions Trading System (EU ETS), from the EU Carbon Border Adjustment Mechanism (CBAM) and from a share of the residual profits of the largest enterprises that would be reallocated to the EU under the OECD/G20 Pillar One Agreement.

Discussions around those proposals made limited progress, so the European Commission decided to adopt new proposals adjusting the first basket of new own resources to take into account the agreement on the Fit for 55 package and developments since then, and also introducing a new statistical based own resource.

• Council Decision amending Decision (EU, Euratom) 2020/2053 on the system of own resources of the European Union;
• Council Regulation amending Regulation (EU, Euratom) 2021/768 of 30 April 2021 as regards implementing measures for new own resources of the European Union;
• Council Regulation on the methods and procedure for making available the own resources based on the Emissions Trading System, the Carbon Border Adjustment Mechanism, reallocated profits and the statistical own resource based on company profits and on the measures to meet cash requirements.

• Primary Source

News

Reuters, 20/06/2023: European Commission calls for more cash from EU members https://www.reuters.com/world/europe/european-commission-calls-more-cash-eu-members-2023-06-20/

EurActiv, 20/06/2023: Commission proposes new EU source of income based on company profits https://www.euractiv.com/section/economy-jobs/news/commission-proposes-new-eu-source-of-income-based-on-company-profits/

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Official

European Commission: EU Budget: The next generation of EU own resources https://commission.europa.eu/strategy-and-policy/eu-budget/long-term-eu-budget/2021-2027/revenue/next-generation-eu-own-resources_en

European Commission: Press Release, 20/06/2023: EU budget: Commission puts forward an adjusted package for the next generation of own resources https://ec.europa.eu/commission/presscorner/detail/en/ip_23_3328

European Commission: Questions and Answers: An adjusted package for the next generation of own resources (20 June 2023) https://ec.europa.eu/commission/presscorner/detail/en/qanda_23_3329

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