Stronger Own Resources, Stronger European Union

Renew Europe is proud to continue to lead Parliament's work in favour of strengthening the EU’s financial autonomy by creating new revenues for the European budget and welcomes today’s plenary adoption of a consultative opinion to the Council, where the European Parliament is reinforcing the system on own resources of the European Union. The new income sources include revenues from emissions trading (ETS), resources generated by the EU carbon border adjustment mechanism (CBAM), and a temporary statistical own resource based on corporate profits.

Valérie Hayer (Renaissance, France) has been the co-rapporteur on the inter-institutional negotiations leading up to today’s adoption. She calls on the Council to accelerate the negotiations so that the proposed package is adopted under the current Spanish or upcoming Belgian Presidency:

"Surprisingly, EU leaders keep talking about redeployments and national constraints. They seem to forget they made a promise in 2020: the EU recovery plan shall be repaid through new own resources. It's time for real leadership, where promises are kept."

To be able to address in a swift and adequate way the challenges our Union and its citizens face and to take responsibility for future generations, Renew Europe believes in a European Union that is more independent from the member states and can bring own revenues into the EU budget.

Renew Europe is convinced that by developing the next generation of new own resources we do not only add a solid fundament to the EU budget, enabling the Union to responsibly repay the debt of NextGenerationEU. We also avoid unpleasant increases in Member states contributions and harmful cuts in EU spending programs essential to our citizens and industries.