The negotiators from the European Parliament and the Council reached a provisional agreement on the EU Budget for 2018.
Parliament reversed the Council’s €750 million cuts in the “growth and jobs” area, and secured an increase for the Youth Employment Initiative by €116.7 million in commitment appropriations, raising the total to €350 million, to help youngsters desperately seeking a job.
MEPs succeeded in reinforcing with mostly fresh resources, on top of the Commission’s budget proposal, programmes they considered key to boosting growth and jobs, reflecting widely agreed Union priorities, namely Erasmus+, (+€24 million) Horizon 2020 (research programmes, +€110 million) and COSME (support for SME, +€15 million).
After Council has formally adopted the compromise, it will be voted in plenary in the European Parliament (on 30 November in Brussels) and signed into law by its President.
19th June 2018