The European Union (EU) is set to have a significantly larger budget in 2013, it has emerged today (25 April).
According to a draft European Commission (EC) paper seen by Reuters, the body is set to request an increase of €138 billion ($180 billion) for the EU's spending limit next year so it can meet previously-set financial commitments.
This represents a 6.8 per cent hike on its previous budget and policymakers are concerned that such a marked increase is set to attract criticism from some government officials across the continent.
The minutes of this afternoon's meeting reportedly note that some EC cabinet members are worried this action may be "wrongly interpreted" as a sign the body is not prioritising the economic recovery.
Indeed, a spokesman from the British administration told the news source the EU needs to show "budgetary restraint" in line with governments and institutions in Europe as the region battles against the ongoing financial crisis.
By Claire Archer