On December 22, 2021, the EC also issued a proposal for 3 new own resources to flow into the EU budget to help repay the EU’s jointly issued COVID recovery debt of EUR 750 billion. These new own resources are:
- 75% of the revenues generated by the carbon border adjustment mechanism (CBAM). Revenues for the EU budget are estimated at around EUR 0.5 billion per year over the period 2023-2030
- 25% of the revenues generated by EU emissions trading scheme (ETS). Revenues for the EU budget are estimated at around EUR 9 billion per year over the period 2023-2030
- 15% of the share of the residual profits of the largest and most profitable multinational enterprises, as defined in the OECD Pillar 1 agreement. Revenues for the EU budget could amount to up to EUR 2.5-4 billion per year
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