The opinion on the Multiannual Financial Framework 2014-2020 adopted by the Committee of the Regions calls for more flexibility within budget headings, a stronger role for regions and cities in the elaboration of operational programs and a call to stop wasting time postponing the introduction of a new own resources system including a tax on financial transactions.

The Committee of the Regions (CoR) adopted an opinion on the Multiannual Financial Framework 2014-2020 which considers that austerity and fiscal discipline are not enough to overcome the crisis. In particular, the CoR asks for more flexibility within budget headings, a stronger role for regions and cities in the elaboration of operational programs and a call to stop wasting time postponing the introduction of a new own resources system including a tax on financial transactions. The European Parliament already asked for an increase of the budget for 2014-2020 period.

According to the opinion responsible, Flo Clucas, Europe needs at least the resource allocation proposed by the Commission, relevant improvements in expenditure procedures and more courage on the issue of own resources. He also ads that austerity alone will not do the job, especially if we consider that we are not dealing with the budget 2012 but with the resources needed to support a seven- year programming phase starting in 2014.

The CoR also reached a strong consensus on critical aspects such as the request for an overall budget of at least 1% of EU GNI, the introduction of a Financial Transaction Tax, the 'transition regions' category and new conditionalities for the allocation of structural funds. CoR president Mercedes Bresso agrees that without a plan for growth, all efforts will be vain, and for this reason the new budget must provide the financial and strategic means to open a new phase of economic and social development in our communities, based on innovation and sustainability.