Today (19-Nov-2013) in Strasbourg Minister of State at the Department of Finance Brian Hayes welcomed the European Parliament’s vote in favour of the 7 year Multi-annual Financial Framework (MFF). Today’s plenary vote puts the final seal of approval on a long-term Budget comprising €960 billion in financial commitments for the period 2014 to 2020.
Today’s vote follows on from agreement reached in Brussels last week on next year’s EU Budget of €135.5 billion. Following today’s vote Minister Hayes stated that,
“Today’s vote by Parliament concludes a negotiated process brokered under the Irish Presidency. The final shape of the multi-annual Budget is a pragmatic one that responds to the needs of a Europe emerging from a painful period of contraction. Budget spending reflects this present reality while also meeting the future funding needs at EU level.”
The main areas of EU expenditure will be the Common Agricultural Policy and Rural Development, Cohesion funding, and research and innovation. Commenting on the supports this budget allows for, Minister Hayes noted that,
“This final package is tailored to respond to the needs of EU citizens. Funding for agriculture and measures to stimulate job creation will have tangible benefits for Irish citizens. Rural development funding, youth employment initiatives, and support for SMEs will be aligned to enhance Government action on the job creation front.”
Minister Hayes is in Strasbourg as part of a wider process of hi-level engagement with parliamentarians on matters of national interest ranging from the environment to telecoms regulation.
ENDS
Note for Editors:
The MFF regulation was approved by the European Parliament by 537 votes to 126, with 19 abstentions.
The 2014 EU budget is the first under the new 2014-2020 Multiannual Financial Framework (MFF). This budget, decreased in 2014 by some 6%, is used to fund programmes such as the Common Agricultural Policy, Cohesion, Horizon2020, the programme for Competitiveness of Enterprises and Small and Medium Businesses (COSME), Erasmus+.
The Budget was negotiated with the European Parliament, which, along with the Council under the Lisbon Treaty comprise the Budgetary Authority. It is estimated that Ireland will receive over €12billion in funding though the various programmes over the cycle of the new MFF, and will remain a net recipient over the period.