PositionFinancing of European Coal and Steel Community - Brief Article

Revenue.The Commission decided to set the levy rate at 0% in 2001 for businesses in the sector, as the ECSC's contingency fund was judged sufficient to allow the ECSC to operate in an appropriate manner until expiry of the Treaty. Thus the financial resources for the ECSC's 2001 Budget come from: the "final balance" of financial operations, in particular, interest from cash investments, reserves and other items included in the ECSC Budget; cancellation of commitments that are not going to come to fruition; the carry over of the financial reserve from the ECSC's Operating Budget; and other resources. For 2001, these revenues amount to Euro 48 million, Euro 58 million, Euro 77 million and six million respectively. Thus, in 2001, the revenue of the ECSC's Operating Budget totalled Euro 189 million.Spending.The Operating Budget revenue is designed to pay for the various items mentioned in the ECSC Treaty. Administrative costs amount to Euro 5 million per year. Euro 107 million were committed in 2001 to facilitate the social reintegration of coal and steel sector workers (traditional reintegration and coal and steel social chapters). In 2001, Euro 77 million were allocated to help technical research in the coal (Euro 21.3 million) and steel (Euro 55.8 million) sectors.The future.The Commission decided to create a Euro 120 million fund to facilitate operation of the new Coal and Steel Research Fund mechanism that is to come into use after July 23, 2002. It also decided to provide a total of Euro 120 million corresponding to the coal and...

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