I welcome the European Parliament’s approval of the Multiannual Financial Framework.

The new financial framework has a longer-term focus on growth than its predecessors. At the same time, it remains prudent and economical in its scope.

This is good news, for it means that over the next seven years around 1000 billion euros will be available for Europe to spend on important tasks.

It will therefore be possible to use funds from the EU budget to provide the necessary momentum for growth in the European regions and thus help bring the standard of living in all parts of Europe more into line with one another.

We want to boost research and innovation in order to support young people via exchange programmes and help them find a foothold on the career ladder.

Many of Germany’s key priorities have been incorporated into the new financial framework. It was important for us that the EU budget acquire a more defined focus, geared towards growth, competitiveness and employment. We succeeded in preventing the introduction of an EU tax.