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The European Commission has launched a public consultation on the targeted revision of the Financial Regulation, the rules which define how the EU budget  should be prepared and spent.

Under the public consultation, which will run until 1 October 2021 in the European Commission’s “Have your say” portal, stakeholders are welcome to share their views on concrete areas of the EU budget spending rules. These include crisis management, protection of the EU financial interests, and further reduction of the administrative burden on the recipients of EU funds, taking into account the simplification achieved with the 2018 Financial Regulation.

The public consultation will help the Commission to carry out a targeted revision of the EU financial rules. Through this initiative, the European Commission intends to ensure that the EU financial rules are fully aligned with the 2021-2027 long-term EU budget and that the budget is even better protected. The revision also aims to propose improvements and the necessary simplification following the coronavirus crisis and the growing digitalisation opportunities.