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The Warsaw Voice » Business » September 30, 2013
Business & Economy
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Tighter Checks on EU Funds
September 30, 2013   
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The European Commission has proposed tighter checks on how money from the EU’s 2014-2020 budget is spent. At the same time it wants to cut red tape.

The European Commission and the European Parliament agree that tighter controls are needed. Euro deputies are expected to approve the new rules in October. Local governments and organizations seeking co-financing will have to provide more detailed spending plans for projects. Moreover, the number of projects eligible for EU co-financing will shrink. Brussels no longer wants to finance expensive water parks or airports. Instead EU funds are to be invested in innovation, energy and new jobs, with the focus on small facilities designed to contribute to the development of local communities.

The most controversial proposal involves stripping member states breaking EU fiscal discipline rules of funds. The European Commission also wants to establish a special reserve for the best projects to be spent after 2018, in addition to annual audits to check how projects are financed.
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