IATE term of the week: general budget

December 1, 2017 1:29 pm

Tajani budget

EP President Antonio Tajani signing off on the EU’s budget for 2018

The European Union’s budget for the year 2018 has been adopted after both the Council and the Parliament approved the deal, even though this wasn’t all plain sailing for the latter.The budget set for next year was set at €160.1 billion in commitments, which would be an increase of 0.2% compared to the budget of the previous year.

The European Parliament however, did approve this without the support of the second largest political party within it, as the Socialist & Democrats group abstained from voting in Parliament.

This budget deal was originally reached on the 18th of November in the conciliation committee for the 2018 budget.

The chief Council negotiator for the 2018 budget, Mart Kivine said that both the Parliament and the Council shared the two main priorities for the financial year in question: on the one hand tackling migration and security issues, and on the other hand boosting growth, innovation and employment in Europe.

2018-eu-budgetThe budget for 2018 will see more support for unemployed young people and additional funding for SMEs, research programmes and the very successful European educational programme, Erasmus.

The vote in Parliament was taken last Thursday, 30 November where it was approved with 295 votes to 154, with 197 abstentions particularly from the S&D group, stating that 16 hours was not enough time to decide on a budget. This was in fact the first time the group has not backed an annual EU budget.

For this reason, it felt appropriate that the IATE term of the week would be related to this topic. In fact, the chosen term is ‘general budget’ which can be found in the IATE database in 19 different languages. It refers to the money that the European Union is allocating to the different programmes, initiatives and institutions for the following year.

General Budget

Visit us again next week when we’ll be dealing with a new IATE Term of the Week.

IATE Term of the Week- budget

Sources: 

  • ‘EU budget for 2018’, Council of the European Union, available here [Accessed on 01/12/2017]
  • ‘Infographic – 2018 EU budget’, Council of the European Union, available here [Accessed on 01/12/2017]
  • ‘EU budget 2018 finally adopted, socialists abstain’, Euractiv, available here [Accessed on 01/12/2017]
  • ‘MEPs pass 2018 budget – without Socialists and Democrats’, Politico, available here [Accessed 30/11/2017]

Written by Veronica Lynn Mizzi : Trainee at the Terminology Coordination Unit of the European Parliament (Luxembourg). Graduate in the Maltese Language and Communication, and Master’s graduate in Translation and Terminology Studies from the University of Malta. Former journalist

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