The European recovery plan and the next long-term budget will use €1.85 trillion to kick-start the EU economy, Reuters reported on Wednesday, citing the official European Commission document. Key takeaways “EU Commission proposes new revenues for the EU budget that could include revenues from ETS trading scheme, carbon levy on imports and corporate tax.” “EU Commission proposes the EU budget could also get funding from a new digital tax.” “New proposal for the EU’s long-term budget is 1.1 trillion euros over 7 years.” “EU Commission proposes to borrow and then disburse to EU countries 500 billion euros in grants and 250 billion euros in loans.” “EU Commission proposes to start repaying the borrowing for recovery after 2027, the maximum maturity of bonds to be 2058.” “EU Commission proposes new solvency support instrument of 31 billion euros.” “EU Commission’s proposal on new revenues for the EU budget are in addition to the proposal for bigger revenue from VAT and a new tax on non-recycled plastics.” “EU Commission proposes 32.5 billion euros extra for the EU just transition fund for moving to a greener economy.” Market reaction The EUR/USD pair largely ignored this statement and was last seen gaining 0.35% on the day at 1.1020. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next SNB’s Jordan: Willing to intervene in currency markets more strongly FX Street 3 years The European recovery plan and the next long-term budget will use €1.85 trillion to kick-start the EU economy, Reuters reported on Wednesday, citing the official European Commission document. Key takeaways "EU Commission proposes new revenues for the EU budget that could include revenues from ETS trading scheme, carbon levy on imports and corporate tax." "EU Commission proposes the EU budget could also get funding from a new digital tax." "New proposal for the EU's long-term budget is 1.1 trillion euros over 7 years." "EU Commission proposes to borrow and then disburse to EU countries 500 billion euros in grants and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
