Since 2000, the EU budget has been adjusted to the arrival of 13 new Member States with diverse socioeconomic situations and by successive EU strategies to support jobs and growth and enhanced actions for the younger generation through the Youth Employment Initiative and Erasmus+.
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Farming's relatively large share of the EU budget is due to the fact that it is the only policy funded almost entirely from the common budget.
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The proposed annual EU budget is then reviewed and negotiated by the Council of the European Union and the European Parliament .
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In order for the EU budget to be adopted, consensus of the majority of Member States is required and final endorsement by the European Parliament.
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Annual EU budget must remain within ceilings determined in advance by the Multiannual Financial Framework, laid down for a seven-year period.
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Budget for a year is determined in advance, but final calculations of payments required from each Member State are not completed until after the EU budget year is over, and information about the final revenue and expenditure is available, and correction mechanisms have been applied.
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When deciding whether to grant, postpone or refuse the discharge, the Parliament takes into consideration the Integrated Financial Reporting Package prepared by the Commission along with the European Court of Auditors' Annual Report on how the EU budget has been spent and any relevant Special Reports from the Court.
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Simple: The structure of the EU budget will be clearer and more closely aligned with the Union's priorities.
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Payments of VAT- and GNI-based resources are based upon the EU budget estimates made for that year, subject to later correction.
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EU budget has had a number of correction mechanisms designed to re-balance contributions by certain member states:.
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Net receipts or contributions vary over time, and there are various ways of calculating net contributions to the EU budget, depending, for instance, on whether countries' administrative expenditure is included.
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