Tuesday , September 27 2022

Minister Hoekstra: Contribution to Brussels can be more than billions now


According to Finance Minister Wopke Hoekstra, the Netherlands's cash flow in Brussels will increase by billions if the European Commission speaks in its proposals for a multiannual budget of 2021-2027.

Ms Hoekstra in the House of Commons on Thursday emphasized that negotiations on the next budget, and hence on the transfer, are still in full swing.

The Minister spoke in the House of Representatives about the "maximum damage" that the Netherlands could implement in plans. According to the "current path", the annual so-called money transfer to the European Union will increase from over 8.5 billion euro in 2021 to 10 billion in 2027.

In addition, the Netherlands Government, when it comes to the committee, loses the rebate on this investment. This means that the payment will increase by EUR 1.25 billion in 2021, increasing to EUR 2.5 to EUR 3 billion in 2027.

The Netherlands received annually a rebate of some € 1.1 billion in the multiannual budget for 2014-2020. It consists of a fixed rebate of EUR 700 million and a lower VAT charge, saving some € 400 million. The rebate was forged because the Netherlands has been one of the largest net contributors to the EU budget for years.

The current investment is 1 percent of the national economy (GNI). Due to UK departure, the European Commission wants to increase its payment to 1.11 percent.

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