November 11, 2020

EU institutions strike deal over seven-year budget

The Gist

On Tuesday, the European Council and the Parliament reached a deal on the EU's seven year spending plan worth 1.0743 trillion euros. 

The List

  • The deal is a compromise - Parliament's negotiators have obtained €16 billion more for key programmes, even though MEPs called for €39 billion.
  • Youth education exchange programme ERASMUS+ will be given €2.2 billion in addition to the €21.2 billion decided by the Council in July. 
  • The Health programme will be increased three times to €5.1 billion, compared to the €1.7 billion agreed by EU leaders in the summer.
  • The European research programme Horizon will receive an extra €4 billion for a total of €84.9 billion.
  • The Rights and Values programme will be doubled to €1.6 billion.
  • Parliament says additional funds will be mainly gained from competition fines, which companies pay when they don't comply with EU rules.

Additional information

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