EU Parliament Secures Additional €16 billion to Reinforce Erasmus+ Program

After weeks of negotiations between the European Parliament and the Council, an amount of €16 billion has been secured for EU flagships programs such as Erasmus + and the Horizon.

During the summit held in Brussels last July, the EU leaders had decided on a general budget of €1824.3 billion. Yet, the European Parliament’s negotiators on budgets managed to secure an additional amount of €16 billion which will be dedicated to strengthening the EU’s flagship programs, to protect citizens from Corona pandemic, to offer new opportunities to the next generation, as well as to preserve the European values.

“Parliament’s top priority was to secure an increase for flagship programmes that were at risk of being underfinanced under the European Council’s July 2020 agreement, jeopardising the EU’s commitments and priorities, notably the Green Deal and the Digital Agenda,” a press release issued by the European Parliament reads. 

After several weeks of negotiations, the Parliament’s budget negotiators along with the Council Presidency, have reached an agreement over the next Multiannual Financial Framework 2021-2027, as well as on the new Own Resources, Erudera College News reports.

The budget negotiators have planned a roadmap to introduce new Own Resources into the EU budget for the next seven years. In addition to the plastic-based contribution in 2021, the roadmap also includes:

  • Emissions Trading System resource as of 2023
  • Digital levy starting from 2024
  • FTT-based own resource along with financial support related to the corporate sector or new corporate tax base as of 2026

In order to evaluate the funds’ implementation, the three EU institutions will meet on a regular basis. These institutions will also check whether there has been any deviation from the previously agreed plans.

According to the release, better climate and biodiversity tracking methodologies will be implemented in an effort to make sure that 30 per cent of the total Union budget amount along with the Next Generation EU expenditures will be dedicated to supporting the climate objectives, as well as to make sure that 7.5 per cent of the total annual spending will be dedicated to biodiversity objectives from 2024 and 10 per cent from 2026.

On October 21, the EU University Associations issued a common statement titled “Last chance to invest in European Higher Education and Research”, urging the EU governments to recognise the value of education, research and innovation.

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