European Commission President Pushes For New Sources of Funding

European Commission President Ursula Von Der Leyen said it’s “high time” for the EU to find new sources for funding for its next seven-year budget.

Speaking at the annual EU budget conference in Brussels on Tuesday, von der Leyen said “we need new sources of funding” because it’s “absolutely clear that national budgets alone cannot bear the brunt of it.”

Alongside that funding from net contributions by member states, the EU also has its own revenue streams, known as own resources, including some revenue from value-added tax, customs duties and a plastic tax.

The commission has proposed new ...