Press Release: The Commission prepares Union finances beyond 2006

The internal roadmap for preparing the Union's financial framework after 2006 received the European Commission's approval on 5 March 2003. The European Commission plans to present a Communication to the budgetary authority on the broad orientations for the next financial framework by the end of 2003 and to present by mid-2004 the legislative proposals covering policy changes relating both to expenditure and revenue aspects.