New funding sources for EU budget must be stable, fair and business-friendly

The Committee is calling on the European Commission to carry out more targeted impact assessments of its proposals for new EU budget funding sources to repay NextGenerationEU debt.

The EESC generally agrees with the proposed EU "own resources" revenues for the budget. However, they need to be stable and fair and should not burden households or businesses.

In an opinion adopted at its May plenary session, the EESC also calls on the Commission to ensure its proposals can weather economic shocks and cautions that these proposals could be derailed by the consequences of higher energy costs due to the war in Ukraine.

"The design of the new own resources should not jeopardise the budgets of other EU programmes and instruments, and avoid increasing the GNI-based resource contributions," said opinion rapporteur Philip von Brockdorff.

Co-rapporteur Antonio García del Riego added: "The EESC applauds the OECD's efforts to ensure that global corporates are taxed where economic activity and value creation occur but warns that EU businesses should not be placed at a competitive disadvantage by implementing the new rules before major trading partners". (tk)