EU budget and Economic Recovery Plan debated Tuesday

Around €2.4 billion in spending to tackle Europe's stagnant economy will be debated by MEPs Tuesday morning. This "European Recovery Plan" forms part of the EU budget for 2010. The Budget Committee particularly want it spent on energy infrastructure, offshore wind energy and for carbon capture and storage to cut CO2 emissions. Also part of the budget will be €300 million that MEPs have secured to help the embattled dairy sector. The debate can be seen live from 0900 CET.

The €2.4 billion recovery plan will come from unspent EU money and fresh funds from Member States. The proposed budget for the Union for next year is €141 billion in commitments and €123 billion in payments.

€300 million euro for the dairy sector

The €300 million euro for the dairy sector has been steered through Parliament by Hungarian MEP László Surján. He believes that this could be the first example of the "spirit of Lisbon" whereby the Parliament will get fuller powers over the budget under the new treaty.

The Parliament will vote on the budget on Thursday.