The Council has adopted three legislative acts establishing the EU's own resources system for 2014-2020 nearly three years after the Commission presented its proposal.
Own resources are the EU revenue which has to completely cover EU expenditure.
Own resources rules for 2014-2020 are set out in the three texts adopted today:
The new rules will only enter into force once the new Council decision on own resources is approved by every Member State, in most cases, ratified by their national parliaments. The rules will apply retroactively as of 1 January 2014.
These texts introduce only limited changes to the system in effect during the previous financial period. However, a high-level group is in charge of reviewing the own resources system. On the basis of the results of this work, the Commission will assess if a reform of the own resources system is appropriate.
Background information on EU's own resources
The legislative package adopted on 26.05.2014
Council press release