EU budget and regional policy
The multiannual financial framework (MFF) is a seven-year spending plan that translates the EU priorities into financial terms. For each annual EU budgetary exercise, it limits expenditure over a fixed period and defines the maximum amounts available for each major category of spending. It also sets up how the budget is financed (so-called “own resources”).
EU regional policy absorbs around a third of the EU budget for a total of €315bn over the current period 2014-2020. With companies as a beneficiary of EU structural funds, BusinessEurope is closely involved in development of this policy.