European Union member states to pay 4.5 billion euros less into EU budget

European Union member states to pay 4.5 billion euros less into EU budget

2011-07-05 19:28:37 GMT+7 (ICT)

BRUSSELS (BNO NEWS) -- European Union (EU) member states will pay 4.5 billion euros less into this year's EU budget, the European Parliament agreed in a vote on Tuesday.

The European Parliament Press Service said the decision was made possible because of a surplus from the 2010 financial year, although a number of countries have in the past repeatedly called for their contributions to the EU budget to be cut.

Of the total 4.54 billion euros, €2.72 billion consists of money not spent on European Union programs in 2010. The rest comes from fines, interest on late payments and surpluses due to exchange rate differences. The Parliament approved the decision with 625 in favor, 14 against and 29 abstentions.

Germany will benefit the most, saving nearly €923 million, followed by France with nearly €741 million. The United Kingdom will save €639 million, Italy €571 million, Spain €381 million, the Netherlands €218 million, Poland €133 million, Belgium €130 million, Sweden €126 million, and Austria €104 million. Other members states save less than €100 million, with Malta saving only €2 million.

The European Union currently has 27 member states, representing a population of more than 501 million people.

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