As committed during the negotiations on the long-term EU budget 2021-2027, the European Commission has recently completed its proposal for a next generation of own resources. This package includes a new temporary statistical own resource based on company profits. Following the political agreement on the Fit For 55 package, which seeks to ensure EU policies contribute to the climate neutrality of the continent, the Commission also proposes to adjust the own resources proposals based on the Emissions Trading System (ETS) and Carbon Border Adjustment Mechanism (CBAM) compared to the original proposals from December 2021.
The proposal completes and updates the package for the next generation of own resources to the budget put forward back in December 2021. Three sources of revenue were proposed back then: one based on revenues from emissions trading (ETS), one drawing on the resources generated by the proposed EU carbon border adjustment mechanism, and one based on the share of residual profits from multinationals that will be re-allocated to EU Member States under the recent OECD/G20 agreement on a re-allocation of taxing rights Once in force, this basket of new own resources will ensure an adequate long-term financing of the budget including the repayment of NextGenerationEU.
Access the factsheet by the Publications Office of the European Union here
