2nd high level conference on the EU Multiannual Financial Framework 2014-2020 with the participation of José Manuel Barroso
José Manuel Barroso, President of the EC, participated in the 2nd high level conference on the EU Multiannual Financial Framework (MFF) 2014-2020 and Own Resources. Martin Schulz, President of the EP, and Helle Thorning-Schmidt, Danish Prime Minister and President in office of the Council of the EU, were also present. José Manuel Barroso made a speech entitled "Europe's future budget – investing for growth" on this occasion. José Manuel Barroso made a speech entitled "Europe's future budget – investing for growth" on this occasion. He underlined the character of the EU budget as a budget to support the Europe 2020 Strategy and that could help to invest in growth and jobs. The President then focused on the European added value and key spending areas of the future budget, including the Connecting Europe Facility (CEF) to interconnect European infrastructure. He also mentioned the proposed macro-economic condition of the future budget to enhance stability in Europe and increase confidence. Concerning the proposed new mix of own resources, José Manuel Barroso presented for the first time some preliminary estimates on how a EU Financial Transaction Tax (FTT) could reduce Member States contributions based on their Gross national ncome (GNI). The EC had proposed to share the FTT revenue in a way that 2/3 would go to the EU budget and 1/3 to the national budgets. This could reduce the Member States' GNI contribution to the EU budget by up 50%. He reiterated that the FTT was a matter of fairness by asking the financial sector to contribute. The President eventually highlighted the need to continue open and constructive discussions and reach an agreement on the future financial framework by the end of 2012.