EU Official Urges Countries to Agree on Budget’s Revenue Sources

EU countries should make a decision on new sources of revenue, an EU official in charge of overseeing the bloc’s long-term budget said Tuesday.

The European Commission proposed a €2 trillion ($2.3 trillion) budget last year, with new taxes on tobacco, large corporates, and electronic waste, along with a greater share of customs receipts — known together as own resources — as part of a package to fund it.

Cyprus, which holds the EU’s rotating presidency, is expected to introduce amended figures to the commission’s proposal for EU leaders to discuss next month.