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The Budget of the European Union. IES WORKING PAPER 4/2010

Matthijs, Herman (2010) The Budget of the European Union. IES WORKING PAPER 4/2010. [Working Paper]

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    This paper first provides a short history of the European budget, focusing on the development of the EU’s “own resources”. It then elaborates on the fundamental changes to the financial system and the budgetary procedure that the Treaty of Lisbon introduced. It is posited that with the amendments the budgetary process has lost clarity. Whilst the multiannual framework may provide for long-term stability, it stands in contradiction to a central principle of parliamentary democracy: annual budgets. The EU’s search for a fair and transparent budgetary system has not yet come to full fruition. Europe needs a fairer and more transparent system. Since the Luxembourg agreement of 1970, the Union has not done anything with the VAT as own resources. The VAT is related to the welfare standards and developments in the Member States. A fixed share of this indirect tax could form the base of a long term financing plan for the general EU budget.

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    Item Type: Working Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > budgets & financing
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Institute for European Studies (Brussels) > Working Papers
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 12 Feb 2015 12:35
    Number of Pages: 34
    Last Modified: 12 Feb 2015 12:35

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