Proposal for a council regulation laying down the multiannual financial framework for the years 2021 to 2027

Abstract

Article 312 of the Treaty on the Functioning of the European Union (‘the Treaty’) stipulates that a unanimously adopted Council Regulation shall lay down a Multiannual Financial Framework. It shall determine the amounts of the annual ceilings on commitment appropriations by category of expenditure and of the annual ceiling on payment appropriations and it lay down any other provisions required for the annual budgetary procedure to run smoothly.