Launch of the House of Lords Committee report on the Financial Perspectives.
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Over the course of its inquiry, The House of Lords EU Committee examined the European Commission’s proposals for governing what the EU spends for the second half of this decade. It explored what principles should guide the EU’s expenditure; proposals for expenditure; and the mechansims proposed for spending EU funds.
The report is expected to include recommendations for Common Agricultural Policy reform; the size and composition of the EU’s annual budgets; how and where the EU should spend its money, and the UK rebate.
The European Commission plans to put forward proposals by the end of June 2011. Debate on the future of the EU financial framework is expected to continue until early 2012, when its size and shape will be set by the European Council and the European Parliament.
Commenting on the inquiry, Committee Chairman, Lord Roper, said, “This is important as the financial framework will influence what the EU does for years to come.”