The European Parliament adopted Thursday the final EU budget for 2010, which includes EUR 141.4 billion in commitments and EUR 122.9 billion in payments.The budget is the last one to be negotiated under the Nice Treaty rules, under which Parliament had no formal power over agriculture expenditure and certain other areas. With the adoption of the Lisbon Treaty, it has now gained full powers over the EU Budget.

The EUR 122.9 billion in payments represent 1.04 per cent of EU gross national income. The largest share, EUR 58.1 billion, is allocated under the heading 'preservation and management of natural resources'. EUR 36.4 billion go to cohesion for growth and employment while EUR 11.3 billion are allocated to the competitiveness for growth and employment heading.

EUR 7.9 billion are allocated to EU administration while EUR 7.8 billion are allocated under 'the EU as a global partner heading'. Freedom, security and justice received a EUR 739 million allocation while citizenship received a EUR 659 million allocation.

"If we want Europeans to feel more secure in 2010, we have to implement this budget cleverly," rapporteur László Surján said in the debate preceding the vote. "This is why we are enhancing energy security, supporting the creation of jobs, introducing the microfinance facility. We support research and development and life-long learning. We want to help the milk sector and mitigate the harmful effects of climate change."

Surján added that there was also an urgent need to review the EU's long-term budget – the financial perspective. This was originally planned for this year but has now been postponed to the next. "We haven't got enough room for manoeuvre. There are headings where there are no reserves. Thus, a mid-term review of the multiannual budget plan is inevitable."