MEPs are proposing reforms to the European Union’s own resources framework, to bolster the EU’s budget for future challenges.

economic policy

climate change

https://api.multimedia.europarl.europa.eu/documents/20125/19177116/N01-PUB-180314-0WRE-EN.srt

Over 94% of the EU budget goes straight back to its citizens:

to regions, cities, farmers, businesses and young people.

A majority of the budget comes from member state contributions.

The rest is drawn from customs and agricultural duties and a percentage of VAT.

But Parliament says it's not enough to match the EU's ambitions

and to face new challenges like migration, security and climate change.

The European Union's budget is going to be too squeezed

and the European Union won't be able to face up to major challenges in the future.

MEPs stress that EU taxpayers should not have to pay more.

Among Parliament's proposals are a financial transaction tax, a digital sector tax,

and a share of corporate tax revenue or environmental taxes.

New own resources could mean a reduction 

in the direct contributions EU countries make to the budget.

bearing in mind that the previous negotiations took two and a half years

and we have nine months to reach a final agreement.

This means that we need a strong political will, because it's a worthy cause.