The Netherlands wants a temporary European emergency fund from which countries can borrow money to combat the corona crisis. The European budget must also be modernized, with less agricultural expenditure and money for regional development. That is the core of the counterplan that the Netherlands has written together with Austria, Sweden and Denmark.
The plan is an alternative to the proposals made by Germany and France earlier this week. The core of this was that the European Commission should borrow 500 billion on the capital markets.
An own plan is of great importance for the Netherlands. In this way, the cabinet can show that it thinks along constructively and is not the naysayer in the European Union, for which our country is now considered. And it is the way for The Hague to get back to the table seriously and to show the rest of the Member States that not only France and Germany are in charge.
The budget for the coming years will be the backbone of the whole. With a part that is intended for the ordinary budget and a separate part for tackling the corona crisis.
Budget expenditure is brought forward. This is called frontloading, so that more money is spent in the first part of the seven-year budget than in the second period.
It is not the intention that countries will pay more to Brussels. The extra money for fighting the crisis is found through cutbacks on the one hand and an extra fund on the other. Money from that emergency fund can be borrowed, but under special conditions.
For example, it must be very clear what it will be spent on and the economy of the country borrowing money must be reformed. It should be read in the future that it should be greener, more innovative, more digital and cleaner.
Next Wednesday, the European Commission will present its plans to emerge from the corona crisis. EU leaders will hold a special summit on the plans in mid-June.