Better resources for the EU budget
The new multi-annual EU budget will have more transparent, fairer resources and will reduce and simplify Member States’ contributions. The Commission proposes new own resources to the existing ones, as foreseen by the Treaty. The aim is not to increase the EU budget, but to put it on a sounder footing and lower Member States’ direct contributions. The new own resources would be a financial transaction tax and a new modernized VAT. Simultaneously, the current VAT-based resource (a portion of the national VAT collected by Member States) would be abandoned.