Michel's budget proposal for 1.074% of EU's GNI "disappointing" says Chair of EP's Budget committee

With EU leaders expected to gather in Brussels for an emergency meeting on 20 February aiming at resolving EU’s 2021-2027 budget stalemate, debate around the bloc’s long-term budget has been heated up after Charles Michel, EU Council’s President proposed to set national contributions at 1.074% of GNI.
“The proposal on the MFF just released is disappointing,” said European Parliament’s Chair of the Budget Committee, Johan Van Overtveldt on Friday.
Lawmakers have heavily criticised Michel’s budget proposal, supporting that it “fully disregards parliament’s position and prevents the EU from achieving its objectives.”
They also cited a considerable gap between the Parliament’s request for 1.3% of EU27 GNI and Michel’s proposal, which undermines the credibility of the EU institutions’ agenda.
“I call on President Michel and the Leaders to think beyond narrow, short-term national interests, and substantially improve this proposal in the interest of Europe as a whole,” van Overtveldt added, also warning that in case EU leaders conclude on any agreement based on Michel’s budget proposal, the EP will reject it.
While the parliament has expressed its support for a quick MFF deal, it is denying to sacrifice many of the bloc’s regions – struck by an insufficient long-term budget for the Cohesion Funds and the Common Agricultural Policy (CAP).