Parliament finally approves EU 2011 budget

15/12/10 16:34 CET

economy

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The European Parliament in Strasbourg has approved the EU’s draft budget for next year.

The vote ended a long running row with the region’s governments.

The two sides have agreed that the 2011 budget will be 126.5 billion euros.

That was an increase in spending of 2.91 percent from this year.

The lawmakers had initially demanded a rise of 6.2 percent.

In return for backing down, they will get a bigger say on spending between 2014 and 2020.

The 2011 draft budget was approved by 508 votes to 141.

The European Union’s budget commissioner Janusz Lewandowski said the new budget: “Will enable the whole of Europe to address next year’s burning issues with more strength.”

More about: Economy, EU Budget, EU Parliament

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