Investing today for growth tomorrow

Brussels, 29 June 2011 – The European Union has a small budget, but with a big impact for Europe’s citizens. The Commission’s proposal for a multi-annual budget for 2014-2020 responds to today’s concerns and tomorrow’s needs. It focuses on priority funding at the EU level that provides true added value. For instance, a Connecting Europe Facility that funds cross-border projects in energy, transport and information technology to strengthen the backbone of our internal market; significantly more money for Research and Innovation to invest in our competitiveness; and more funds for Europe’s youth – these are just some of the new elements in the Commission proposal. At the same time, this innovative EU budget remains focused: The overall amount proposed for the next seven years is €1,025 billion in commitments (1.05% of the EU GNI) and €972.2 billion (1% of EU GNI) in payments.

Investment in research and innovation in the next seven years is foreseen to be significantly increased. A common EU strategy called «Horizon 2020» worth 80 billion € should support boosting Europe’s global competitiveness and help creating more jobs.

You will find more details here: