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European Parliament backs deal on long-term EU budget

BRUSSELS | Wed Jul 3, 2013 8:15am EDT

BRUSSELS (Reuters) - The European Parliament backed a deal on the European Union's next long-term budget in a vote in Strasbourg on Wednesday, removing the last major hurdle to finalising the 960-billion-euro spending plan.

A majority of lawmakers voted in favour of a resolution endorsing the budget deal, which was struck by negotiators last week and supported by EU leaders at a summit in Brussels.

The deal left unchanged figures agreed by leaders at an earlier summit in February. But the parliament won concessions that will allow any unspent money to be transferred from one year to the next rather than returning it to national budgets as at present.

EU officials have said the change could allow spending to rise over the next seven-year period, despite the lower expenditure ceiling agreed by leaders, because actual spending will be closer to the upper limits than at present.

The EU leaders signed off on the spending plan last week after soothing British concerns over its long-cherished budget rebate.

Under EU budget rules, the parliament must approve any deal struck by EU governments before it can enter force.

"Through its overwhelming vote in favour of the European budget for 2014-2020, the European Parliament has opened the way for putting in place a seven-year growth and jobs fund," European Budget Commissioner Janusz Lewandowski said in a statement.

EU governments and the parliament are expected to rubber-stamp the legislative texts formalising the budget deal some time after August.

That will unlock nearly 1 trillion euros (852.2 billion pounds) in funding from the start of 2014, for everything from roads and bridges in poorer eastern European member states to subsidies for farmers and fishermen in France and Spain.

(Reporting by Charlie Dunmore, editing by Gareth Jones)

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