Lawmakers backed three laws on EU’s Own Resources system

This move paves the way for the introduction of new lines of EU revenue

Photo: EP José Manuel Fernandes.

At the plenary session on Thursday, MEPs adopted one implementing and two operational regulations on which methods to use to collect or make available specific own resources, which constitute the revenue for the EU budget.

The three laws are tied to the key Own Resources Decision (ORD), approved by Parliament in September and by Council in December 2020. The process of ratifying this decision is currently ongoing in the EU Member States, and so far 13 out of them carried it out.

The backed regulations include provisions on calculating and simplifying the EU’s revenue, on managing cash flow, and on monitoring and inspection rights. These are needed to ensure the EU budget’s reformed revenue side continues to function smoothly.

Once member states have ratified the Own Resources Decision, the package adopted on Thursday will apply retroactively from 1 January 2021.

It will bring in the new plastics levy as the first of various new streams of revenue that will be set up between now and 2026. The decision will enable the EU to borrow €750bn for the “Next Generation EU” recovery plan.

José Manuel Fernandes (EPP, PT), one of the co-rapporteurs commented that “once more, the European Parliament sets the tone”. By approving this package, we are ensuring that the EU’s system of own resources will contribute to establishing the ‘Next Generation EU’ recovery plan as soon as the ORD has been ratified by the Member States, he said noting that the EU needs to act quickly and decisively to set up the recovery.

Parliament is again acting swiftly to make the recovery plan a reality and we now urge all member states to ratify the recovery plan as soon as possible, stated on her part, Valérie Hayer (RENEW, FR), the other co-rapporteur.

We cannot afford any delay and in addition, December’s repayment agreement binds the Commission to propose an EU digital levy in June of this year, regardless of what happens at OECD level, she recalled.

 

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