Budget is approved

Parliament approved the ECU 84.6 billion budget for 1998

Parliament approved the ECU 84.6 billion budget for 1998. In doing so it voted for a special Ecu 150 million jobs initiative programme geared towards helping small firms and stimulating private finance. The intention is that the move will be taken up by EU ministers as the EP's contribution to the jobs summit in Luxembourg in November and, indeed, it won the support of Council President JeanClaude Juncker of Luxembourg.

In general, bearing in mind the restriction placed on public spending in the member states, the approach this year was prudent, said John Tomlinson (UK, PES), who is responsible for looking after the funds earmarked for running the institutions. There is a general freeze on institutional expenditure, except in the case of the Court of Auditors, responsible for checking for fraud.

The farm budget will account for some Ecu 41 billion, and the regional and social funds Ecu 28.4 billion. Internal policies, including research, education and funding for the trans-European networks will receive some Ecu 5 billion, while the aid budget amounts to Ecu 4.4 billion.

The amended first reading now goes to Council before coming back to Parliament for a final reading in December.