The European Parliament refers to various documents and decisions related to the financing of the European Union’s budget through own resources. Pursuant to Article 311 of the Treaty on the Functioning of the European Union, the Union must provide itself with the means necessary to attain its objectives and carry through its policies, and its budget is to be financed wholly from own resources. The Parliament highlights the need to reduce the Union’s dependence on gross national income-based contributions from Member States and increase the use of genuine own resources, such as customs duties and value added tax. The Parliament also refers to recent proposals and decisions related to own resources, including the European Climate Law and a roadmap towards the introduction of new own resources.
Source europarl.europa.eu
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