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Explainer - Beancounting: the EU's 'coffee-a-day' new budget

Reuters  |  BRUSSELS 

By Alastair MacdonaldBRUSSELS (Reuters) - The European Commission will unveil proposals on Wednesday for the Union's next seven-year budget, starting in 2021.Worth over a trillion euros (dollars), the costs of EU membership played a role in Britain voting to quit the bloc. However, EU leaders insist that spending just about one percent of total income -- roughly equal to the cost of one cup of coffee a day for 440 million citizens -- brings benefits for security, stability and prosperity.Here are answers to key questions:DOES BREXIT MAKE A DIFFERENCE?Absolutely. Despite a large and much ...

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First Published: Mon, April 30 2018. 20:24 IST
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