EU unveils bigger post-Brexit budget

European Commission chief Jean-Claude Juncker said the proposals were "reasonable and responsible" but the idea of spending more money faces opposition from several countries.

EU unveils bigger post-Brexit budget

World Bulletin / News Desk

The EU unveiled plans Wednesday for a bigger 1.279-trillion euro budget for the seven years after Brexit, featuring a controversial move to cut funding for countries that fail to respect the rule of law.

Poland and Hungary, which have both been severely criticised by Brussels over democratic freedoms, are meanwhile up in arms over the proposal to "suspend, reduce or restrict access" to errant states.

"We are proposing a new mechanism that will allow for the protection of the budget linked to risks arising from deficiencies in the rule of law," Juncker told the European Parliament.

The departure of Britain, a net contributor, in 2019 leaves the bloc with what Juncker says is 15 billion euro gap in its accounts, but the EU also wants more money for ambitious projects to unify the remaining 27 member states.

EU Budget Commissioner Guenther Oettinger said member states would pay 1.114 percent of their annual gross domestic product under the plans, up from one percent in the current 2014-2020 multi-year budget worth 1.0 trillion euros.

Güncelleme Tarihi: 02 Mayıs 2018, 16:10