Council proposes €18 billion cut to competitiveness programmes

The Council of Ministers is considering a cut of €18 billion to the competitiveness branch (heading 1a) of the next multi-annual financial framework, which includes Horizon 2020.

The potential loss for heading 1a is part of overall cuts of €50 billion in the next seven-year EU budget, starting in 2014, which were suggested by the Cypriot presidency on behalf of the Council (see RET 30-10-12). The draft budget proposal, published on 29 October, will form the starting point for negotiations between member states in the coming weeks.