Parliament Supports R&D Funding Increase

28 October 2011

BRUSSELS - 26 October. The European Parliament has endorsed the budget proposal of its’ Committee on Budgets (BUDG). This proposal included a call for an additional €30 million to be added to the funding allocated for research and development as originally proposed by the European Commission.

Ms Francesca Balzani MEP (S&D, IT), who is steering the budget through Parliament, stressed that investments are needed to secure future growth and employment.

Parliament followed Ms Balzani's proposals to increase spending on programmes related to the EU2020 strategy. Ms Balzani had previously warned that the Europe 2020 growth strategy could be in danger of falling victim to the current austerity climate.

The budget resolution was adopted with 431 votes in favour, 120 against and 124 abstentions. The resolution will form the basis of the European Parliament's position in the upcoming EU budget negotiations.

A 21-day conciliation period will begin in November, with meetings foreseen on 8 and 18 November. Furthermore, there are budget three-way discussions foreseen on 3, 10 and 14 November. If the European Parliament and European Council can agree, the final budget could be approved at the 1 December 2011 session in Brussels.