June 19, 2020 / 9:39 AM / 16 days ago

EU parliament wants new EU taxes to finance recovery fund, EU budget

European Parliament President David Sassoli announces that next week's EP's plenary session will be moved to Brussels, in Brussels, Belgium March 9, 2020. REUTERS/Johanna Geron/File Photo

BRUSSELS (Reuters) - The European Parliament wants European Union governments to assign new sources of revenue to the bloc to repay European Commission borrowing for the recovery and finance the next long-term budget, the head of the European Parliament said.

David Sassoli told a news conference after speaking to EU leaders that unless such new revenues dedicated to the EU were agreed, the European Parliament would not sign off on the next budget and recovery plan now under discussion.

“There will be no agreement unless there are new taxes and a timeframe for their introduction,” Sassoli said.

Reporting by Jan Strupczewski

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