27 / 11 / 2019
The EU budget for 2020 has been formally adopted by both the Council on 25 November and the European Parliament (EP) at its plenary session on 27 November. Next year’s budget will mainly focus on growth and competitiveness, climate action and other EU priorities, such as security and management of migration. Total commitments amount to €168.7 billion, increasing the 2019 budget to 1.5%. Total payments are set at €153.6 billion, rising 3.4% from 2019.
In addition, the EU has targeted to dedicate at least 20% of EU expenditure to climate protection in the period 2014-2020. To help to meet this goal, the EP secured an increase of over €500 million on investments to protecting the climate in the next year’s EU budget, compared to the initial proposal of the European Commission. Both the EP and the Council have agreed to increase the budget of the Horizon 2020 programme, which traditionally makes a substantial contribution to reaching climate targets, getting €13.49 billion (+8.8% compared to 2019).
The figures, agreed by the Council and the EP on 18 November, are based on the premise that the UK will continue to participate fully in the financing and implementation of the EU budget for 2020.