EU lacks funds to finance its policies, the Chairman of the European Parliament Commission for Budget Alain Lamassoure said, RIA Novosti reports, citing Belgian media.
The French member of the parliament said that the EU budget is 1% of the total GDP of the organization. Its sphere of activities expanded with the Lisbon agreement on forming expanded the EU, which came into force on December 1, 2009.
European deputies believe that the budget of EU was mainly growing due to the introduction of a single European VAT rate. The UK was against the rate.
EU lacks funds to finance policies
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