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EU's Juncker says next EU budget has to be bigger despite #Brexit

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The European Union’s next long-term budget has to be larger than the current 1 percent of EU GDP (gross domestic product), despite the loss of major net contributor Britain, the head of the European Commission said on Monday (8 January).

Speaking at a conference on the next seven-year budget of the EU, which starts in 2021, Jean-Claude Juncker said it would have to finance joint EU policies in the areas of defence, security, migration, climate change, cohesion and agriculture.

“Britain will be leaving us...so we need to find...a means to reacting to the loss of a several billion euro, when a significant contributor goes,” Juncker said.

The EU’s budget Commissioner Guenther Oettinger said the gap from Brexit would be €12-13 billion (10.61-11.50 billion pounds) per year.

Juncker said that while some EU policies could be reviewed and modernized, EU governments needed to commit more money to the EU budget to finance new areas of joint interest.

“All that cannot be funded from just 1% of Europe’s wealth,” Juncker said.

Next EU budget should be more than 1.1% of EU GDP - Commission

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