Next EU budget should be more than 1.1 percent of EU GDP – Commission

The next long-term budget of the European Union after net contributor Britain leaves should grow to slightly more than 1.1 percent of EU output, from around 1 percent now, the EU’s budget Commissioner Guenther Oettinger said on Monday.

Speaking at a conference on the next long-term EU budget, that will start in 2021, Oettinger also said that while there could be a special line in the overall EU budget dedicated to the euro zone, there should be no separate euro zone budget.

“We don’t need 2 percent of European GDP, but a little more than 1 percent. I am talking today of 1.1x and I ask you to help get majority-backing for this in your parliaments and among the public,” Oettinger told the conference.
Source: Reuters (Reporting By Jan Strupczewski and Philip Blenkinsop)

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