The European Parliament has approved the Brexit Reserve Fund, from which Spain will receive 272 million

File photo of the European Parliament.

European Parliament plenary Wednesday gave the green light to the Reserve Fund for Britain’s exit from the European Union, which seeks to help the sectors and regions most affected by London’s exit from the societal bloc and from it Spain will receive about 272 million euros until 2025.

specific, Deputies supported 652 in favour, 32 against, and 11 abstentions The agreement reached with the bloc’s governments to create this budget line is €5,000 million (at 2018 prices).

The Reserve Fund must be approved at the end of the month by the Member States and will then be published in the Official Journal of the European Union. The first disbursement will not take place until the regulations come into effect.

The agreement between the European Parliament and the bloc countries is considering this Reserve resources can be used to cover approved expenditures between January 1, 2020 and December 31, 2023, one year longer than the original proposal of the European Commission.

The two institutions with legislative powers also agreed to distribute 1,600 million euros to member states this year, 3,400 million euros will be distributed in three installments between 2022 and 2023, and the remaining thousand million will reach the capitals in 2025.

Funds are distributed among community partners Taking into account three factors: The trade relationship with the United Kingdom, the importance of each country’s fishing sector in British waters and the population living in the maritime areas bordering the United Kingdom.

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Thus, Spain is entitled to a total of 272.4 million euros (249 million in 2018 prices), of which 3.9 million euros comes from the standard set on the basis of fishing in British waters.

Ireland (with around 1 billion euros) will be the most benefited European partner, followed by the Netherlands (810 million), France (670 million), Germany (590 million) and Belgium (350 million).

The People’s Party voted against

In a statement, the PP delegation in the European Parliament announced its vote against this matter because it understands that the criteria for the distribution of the reserve allocated to hunting are “inadequate”.

Spain, which has the largest fleet in the European Union, will get only 0.6% of the money for fishing”, lamented the Galician MEP Francisco Milan Moon, who criticized that when distributing the money “it was not taken into account that the share of cod in Svalbard for the EU was remembered so much because of Brexit and this is particularly harmful” to Spanish ships.

The ‘popular’ European Parliament also criticized that the final regulations also ignore other demands the European Parliament has made of governments, such as extending the reserve’s validity until at least July 2026 and using unspent funds from the former EU. Marine and Fisheries Fund (EMFF).

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