Earlier today, the European Commission proposed to establish the next allocation of own resources to the EU budget and presented three new sources of funds: the first one is based on funds from the Emission Trading Scheme (Ets), the second one is drawn from the resources produced by the proposed Carbon Border Adjustment Mechanism, the third one is built on the share of residual profits of the multinational corporations, which will be reallocated to the member states, pursuant to the recent OECD/G20 agreement on the partial reallocation of taxing rights. The Executive expects that such new sources of funds, once they become steady in 2026-2030, will generate up to 17 billion euros a year on average for the EU budget. The decision on the EU’s own resources will have however to be unanimously approved by the EU Council in consultation with the European Parliament.
“The new resources proposed today will help repay the sums collected by the EU to fund the unsecured component of NextGenerationEu”. The new own resources “should also fund the Social Climate Fund. The latter is a key element of the new proposed Emission Trading Scheme, which will apply to buildings and road transport and will help make sure no one is left behind in the transition to a carbon-free economy”.