In a vote on the 13th of September, MEPs have approved the interim report on the Commission’s proposal for a revision of the Multiannual Financial Framework (MFF) 2021-2027. MEPs support the proposed targeted revision of the Multiannual Financial Framework, but demand modifications to better reflect carbon price increase, specifically they call for more funds to help citizens cope with high energy costs.

What is the interim report?

This interim report translates Parliament’s stance on relevant aspects of the Fit for 55 package into a position with respect to this proposed revision of the MFF from December 2021.

The vote

MEPs demand that in the event of an increase in the carbon price to a level higher than the initial assumption in the proposal, an additional allocation should be made available for the Social Climate Fund on an annual basis to reflect the rate of increase, in order to further support vulnerable households and transport users in the transition towards climate neutrality. Moreover, the proposal introduces of an automatic adjustment of the MFF ceilings based on new “own resources” which would allow for the repayment of NextGenerationEU borrowing, in line with the Commission’s commitment in the roadmap agreed with Parliament and Council in December 2020. Among these new income sources are a share of the revenues under the Emission Trading System (ETS) and from the Carbon Border Adjustment Mechanism, so this is also a vital step to ensure that the EU’s revenue is placed on a sustainable footing.

You can find more details at the Parliament’s website.

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