European Union MPs want Europe’s budget to deal with a big crisis

The European Union requires a large budget to spend more on defense due to increasing threat from Russia, demanding European MPs on Wednesday.“Neither may not be due to defense expenses nor a decrease in long -term investment in the Union’s economic, social and regional harmony during a full session in France, France, France.The vote of Parliament is a clear message for the European Commission as the European Union’s executive wing prepares a proposal for July on the next multidimensional budget.This will cover the duration of 2028–2034, which will set the limit of spending on the preferences of the block including support for farmers and subsidies in poorest areas.European Union MPs have called for “increase in resources” and breakdown with the general limit that the budget is one percent of the gross national income of 27 member states.Russia’s 2022 invasion of Ukraine and the need to increase defense spending against a more combative Russia has put the European Union budget under stress.It is also worn out with a loan of 800 billion euros ($ 909 billion) after the Kovid epidemic to revive the economy, which the European Union will have to pay back by 2058.A large -scale investment will be required at a time to focus the focus of the block on Green Transition and increase its competition when weakened economic growth in Europe is stressing on resources. Some states, such as France and Italy, are already over-conscience.The two countries are emphasizing to take more common loans for Europe to fund the priorities of the block, but it is a red line for the frugal states including Germany and Sweden – the main net contributor in the European Union budget.At the top of the contribution of the member states, the budget is funded by the tariff on imports and a part of the VAT collected inside the block, but in the future, more money can come from carbon border tax – which is being gradually being phased out – or through a possible digital service tax.“Without fresh revenue, the European Union’s programs will face cuts, or taxpayers will have to bear the burden,” said the largest political group in Parliament, a legalist for the Conservative EPP, Sigfrid Marson.The debate on the future budget structure will be heated. It should be unanimously adopted by the European Union states and should be given green lights by MPs before the end of 2027.