Amending budget 5/2007: revision of the forecast of traditional own resources, VAT and GNI bases and the budgeting of the relevant UK corrections for 2003 and 2006

PURPOSE: final adoption of amending budget No 5/2007.

LEGISLATIVE ACT: 2007/721/EC, Euratom.

CONTENT: the European Parliament finally adopted amending budget No 5/2007 of the European Union, in accordance with its resolution of 5 September 2007 (please see the summary of the resolution).

The aim of this amending budget is to enter a number of new budget resources into the 2007 budget. The amending budget takes account of the revision of the forecast of traditional own resources (customs duties, agricultural duties and sugar levies), VAT and GNI bases and the budgeting of the relevant UK corrections, as well as their financing. These amendments cover a change in the distribution between Member States of their own resources contributions to the EU budget, the repayment of the surplus from the Guarantee Fund for external measures, and the impact of changes in the Financial Regulation in terms of revenue.