France Demands €60 Billion Revenue Target for European Union Budget
As budget negotiations continue for the new term of the European Union, France has demanded that over 60 billion euros be generated from new taxes.
Representatives of European Union member states held a closed-door meeting to discuss future budget planning. At the meeting, France argued for setting a target of over 60 billion euros in new tax revenues, a rate deemed excessive by many member states.
Budget Discussions in Closed Meeting
Representatives of European Union member states came together in a closed session to discuss the bloc's future budget plan.
France's €60 Billion Target
France's Permanent Representative to the EU, Philippe Leglise Costa, argued that revenues from new EU taxes should exceed 60 billion euros.
Priority Spending Areas
France demanded that these new revenue items, defined as own resources, be channeled into core priority areas such as defense and competitiveness.
Reactions of Member States
The revenue target of over 60 billion euros put forward by France was found to be high by many member states attending the meeting.
Ireland's Presidency Goals
Ireland, holding the EU rotating presidency, aims to clarify acceptable revenue sources before the EU Leaders Summit to be held in Brussels on October 15.
Areas of Consensus and Disagreement
It is stated that consensus has been reached on transferring resources to the budget from the Carbon Border Adjustment Mechanism and electronic waste. On the other hand, many member states remain distant to regulations regarding tobacco products, corporate turnovers, and emissions trading system revenues.
Multiannual Financial Framework Work
All these ongoing negotiations and preparation efforts are shaped around the Multiannual Financial Framework process covering the years 2028 to 2034.