The European Commission adopted on 6 July a Draft Amending Budget (number 7 for the financial year 2020) to update the revenue side of the budget.
This draft amending budget, which must be approved by the two arms of the budgetary authority (Council of the EU and European Parliament), makes it possible: - to revise the forecasts for traditional own resources (customs duties) and the bases for value added tax (VAT) and gross national income (GNI) and to enter in the budget the relevant UK...