Ms Barbara Nolan:

On the new own resources issue, which has regard to the long-term view and is separate from our urgent needs under the current multi-annual financial framework, MFF, it should be recalled that the EU is funded by member states' contributions, which are based on gross national income, custom duties and VAT. With NextGenerationEU, the EU's economic recovery plan, the Commission basically took on debt to support all member states in dealing with the economic crisis caused by the pandemic. To repay this borrowing, the EU agreed to introduce new own resources as this would allow for a more diversified and resilient revenue stream. Basically, three sources have been proposed. One is based on revenues from emissions trading, another is based on the EU carbon border adjustment mechanism, CBAM, and the third is based on the share of residual profits from multinationals, with this being reallocated to the EU under the OECD pillar 1 proposal. It is horribly technical, if I may say so. We have just started discussions on this and it will probably take a very long time because the whole area of new own resources is a very sensitive issue for member states. There is quite a way to go. The proposal is out there and it is now up to the member states to look at it in the context of our need to find new sources of funding so that we can do all of the things we are asked to do while also servicing the borrowing taken on to get the EU out of the crisis following the Covid pandemic. It is out there and that is what it is. The discussion is only starting.

To address funding for the green deal, it is important to remember that the Common Agricultural Policy takes up about a third of the EU's budget. It has consistently taken the biggest slice of any sector we fund through the EU budget. The target is to allocate at least 10% of the current multi-annual financial framework to the EU's biodiversity strategy. The funds given out through the Common Agricultural Policy already represent a big source of funding for farmers adjusting to the biodiversity standards we are trying to promote. This includes, for example, support for organic farming. We have worked with the national authorities on the CAP strategic plans of each member state to ensure that they integrate biodiversity. However, it is important to say that this huge chunk of money that goes towards the CAP is not the only funding source that goes towards supporting the green deal and the move to more sustainable practices. Other sources, such as the Cohesion Fund, the European Regional Development Fund, the European Maritime, Fisheries and Aquaculture Fund, Horizon Europe and the LIFE programme, all also do. We already have various funding streams going into the area. Not all funding should necessarily come from the EU. In addition to national funding, other sources of private and public funding can be mobilised to support this green transition.

I mentioned that there was going to be a dialogue with the farming community. This was announced in the state of the Union address. The issues about which the Deputy is concerned should be raised in that context when that dialogue is launched. I know it is a concern but, if you take all of the different funding streams going into this area, you will see there is quite a lot out there. There has been a greening of the EU budget in terms of where the money is going.

That is where we are at. I mentioned that we are under very significant pressure at the moment with the current budget because of all the crises we have had trying to handle them. We have to see where we can go any further on that. I have no answer today for Deputy Harkin and cannot make any promises in that regard.