Parliament is working on the EU's next long-term budget. The post-2020 Multiannual Financial Framework (MFF) should be more ambitious to finance both old and new priorities. MEPS will vote on Parliament's priorities during the March plenary in Strasbourg.
Parliament is looking at how to reform the EU's long-term budget to meet the bloc's ambitions in the years to come. The MFF, or Multiannual Financial Framework, enables the EU to administer its budget across different areas over a minimum of five years. MEPs want to boost some European programmes including Erasmus+ and the Youth Employment Initiative. Parliament also wants to keep funding key European policies, like support for poorer areas and sustainable agriculture. They also want to fund new priorities. We agreed and we need new priorities, research, innovation, digitalization, this is something very important but we cannot resign from the old ones. But the EU is facing a funding a challenge... The UK's departure is going to have important consequences on the next budget because we will have a gap of €14 billion less in the pot. The MFF makes sure that spending stays within agreed limits. But MEPs want it to be flexible enough to cope with new challenges, such as sudden increases in migration flows or security threats.