The €1.9 billion cuts proposed by the Council in areas that MEPs believe are vital to boost the economy, were refused by the European Parliament in a vote on the budget proposal for 2013. The Council highlights with particular concern that the European Parliament's amendments considerably reduce the margins under the expenditure ceilings of the current multiannual financial framework or even delete it.

MEPs refused the Council budget proposal for 2013 in plenary session. Parliament reversed the €1.9 billion cuts proposed by the Council in July in areas that MEPs believe are vital to boost the economy, such as research, entrepreneurship and employment measures. They also wants to restore €1.6 billion cut by the Council for regional policy, and also to reverse most of its proposed cuts in agriculture.

In the light of this vote's result, the Council informed that on 24 October a three-week conciliation period will start, aimed at bridging the gap between the divergent European Parliament and Council positions. If the conciliation succeeds, the Council and the European Parliament have 14 days to formally adopt the agreement, following the finalisation of the text. If the conciliation fails, the Commission must submit a new draft budget.

At the same time, the Council took note of draft amending budget nº 6 for 2012 through which the Commission proposed to increase this year's EU budget by €9 billion in payments. The Council will examine the proposal and establish its position as soon as possible. However, the Council stressed that the increase proposed by the Commission by far exceeds the reduction in payments on which the European Parliament and the Council agreed for the 2012 EU budget which was limited to €3.58 billion compared to the Commission's draft budget.