COMMISSION SETS MAXIMUM RATE OF INCREASE FOR 2005 BUDGET AT 3.4%.

On the basis of the European Union's GDP trend in 2003 and the average evolution of spending by public administrations in the Member States over the same year, the European Commission set the maximum rate of increase for non-compulsory spending for the 2005 Budget at 3.4%. Provision is made in Article 272s.9 for fixing a maximum rate of increase each year. It only applies if the two branches of...