Financial perspective
Encyclopedia
The financial perspective (sometimes financial framework) of the European Union
(EU) is a seven-year framework for its spending.
The origin of this unusual usage of the term "perspective" appears to be non-native English, likely influenced by French or German (English "prospects" = French "perspectives", German "Perspektive").
. UK Prime Minister Tony Blair
accepted to review the British rebate
, negotiated by Margaret Thatcher
in 1984. French President Jacques Chirac
declared that this increase in budget will permit Europe to "finance common policies" such as the Common Agricultural Policy
- which represents about 44% of the EU's spending - or the Research and Technological Development Policy. However, France's demand to lower the VAT
in catering was refused.
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
(EU) is a seven-year framework for its spending.
The origin of this unusual usage of the term "perspective" appears to be non-native English, likely influenced by French or German (English "prospects" = French "perspectives", German "Perspektive").
Financial perspective for the 2007/2013 period
On December 15, 2005, EU members agreed to fix the common budget to 1.045% of the European GDPGross domestic product
Gross domestic product refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living....
. UK Prime Minister Tony Blair
Tony Blair
Anthony Charles Lynton Blair is a former British Labour Party politician who served as the Prime Minister of the United Kingdom from 2 May 1997 to 27 June 2007. He was the Member of Parliament for Sedgefield from 1983 to 2007 and Leader of the Labour Party from 1994 to 2007...
accepted to review the British rebate
UK rebate
The UK rebate is a rebate on the United Kingdom's contribution to the EU budget paid back to the UK government by the European Union.-History:...
, negotiated by Margaret Thatcher
Margaret Thatcher
Margaret Hilda Thatcher, Baroness Thatcher, was Prime Minister of the United Kingdom from 1979 to 1990...
in 1984. French President Jacques Chirac
Jacques Chirac
Jacques René Chirac is a French politician who served as President of France from 1995 to 2007. He previously served as Prime Minister of France from 1974 to 1976 and from 1986 to 1988 , and as Mayor of Paris from 1977 to 1995.After completing his studies of the DEA's degree at the...
declared that this increase in budget will permit Europe to "finance common policies" such as the Common Agricultural Policy
Common Agricultural Policy
The Common Agricultural Policy is a system of European Union agricultural subsidies and programmes. It represents 48% of the EU's budget, €49.8 billion in 2006 ....
- which represents about 44% of the EU's spending - or the Research and Technological Development Policy. However, France's demand to lower the VAT
Value added tax
A value added tax or value-added tax is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the "value added" to a product, material or service, from an accounting point of view, by this stage of its...
in catering was refused.