MEPs vote to slash 5 bn euros from EU 2013 budget

The European Parliament approved on Wednesday a long-delayed EU 2013 budget but including conditions that member states make up shortfalls in the current year\'s spending programme. Parliament head Martin Schulz said the European Commission, the bloc\'s executive arm, will present a budget adjustment early next year which will provide funds to cover the 2012 shortfall. \"The Commission will also have to present another budget adjustment from mid-2013 because the 2013 budget is not enough,\" Schulz said. For 2012, the adjustment will provide about six billion euros -- out of the nine billion euros missing -- to cover several commitments, including the Erasmus student exchange programme, and MEPs approved this provision by a large majority. Member states cut the 2013 budget by five billion euros to some 133 billion euros over the opposition of the Commission and Parliament which backed a 6.8-percent increase -- or nine billion euros -- to 138 billion euros so as to help bolster growth and jobs in the slowing economy. \"Today\'s endorsement is an important political signal of the European Parliament\'s determination to ensure that the EU has all the resources needed to implement its policies properly,\" said MEP Giovanni La Via who steered the 2013 budget through Parliament. Separate talks on the EU\'s 2014-20 budget, under which the Commission targeted a 5.0 percent increase to some 1.0 trillion euros ($1.3 trillion), failed last month as Britain led opposition to any additional spending at a time of austerity.