		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="2">
		</amp-ad>
				</div>
			</div>
		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/11/revised-eu-budget-plans-unveiled.jpg"><img class="alignnone size-full" title="Revised plans for next year's EU budget have been unveiled" src="http://londonglossy.com/wp-content/uploads/2010/11/min-revised-eu-budget-plans-unveiled.jpg" alt="Revised plans for next year's EU budget have been unveiled"/></a></p>
<p>Revised plans for next year&#8217;s euro-budget have been unveiled &#8211; sticking to a 2.9% increase demanded by EU ministers in the face of continuing efforts by MEPs to win a 6% rise.</p>
<p>But the European Commission insisted there were new concessions to MEPs in its latest proposals, in the form of a &#8220;contingency fund&#8221; of up to 3.5 billion euro (£3 billion) in the event of &#8220;unforeseen circumstances&#8221;.</p>
<p>Talks on the EU budget ended in deadlock last month after Britain led a group of countries refusing to offer MEPs a bigger say in future spending priorities.</p>
<p>EU budget Commissioner Janusz Lewandowski said the Commission was keen to get the 126.5 billion euro (£106 billion) budget agreed by the end of the year.</p>
<p>Failure to do so would mean an effective freeze in EU spending, until the budget row is settled.</p>
<p>That would suit Prime Minister David Cameron, who wanted a spending freeze all along, but agreed with other ministers to accept a 2.9% increase, but not a euro more.</p>
<p>The new compromise sticks to that pledge &#8211; with the Commission confirming that the &#8220;contingency fund&#8221; could not in any case be used until 2012 at the earliest.</p>
<p>But Mr Lewandowski seized the concession as the key to a deal with MEPs in the next few weeks, saying: &#8220;I am happy that the Council (EU ministers) have agreed to establish a contingency margin of up to 0.03% (3.5 billion euro) as a last resort instrument to react to unforeseen circumstances. We welcome it as a major step forward.&#8221;</p>
<p>However, such a fund already exists in the current EU budget rule book, and MEPs may now demand a more substantial concession before accepting the plan.</p>
<p>But British officials were content that the new deal does not break the 2.9% increase for next year. A UK Government spokesman said: &#8220;The UK has been clear that any increase above 2.9% from 2010 budget levels is unacceptable.&#8221;</p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-69e4be5d9d0a0">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-69e4be5d9d0a0',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
