The European Council and Parliament have reached an agreement on the EU budget for 2020, with a considerable focus placed on growth and competitiveness and climate action. The total budget is EUR 168.7 billion, representing an increase of 1.5% compared to the 2019 budget. The agreed figures are based on the premise that the UK will continue to participate fully in the financing and implementation of the EU budget for 2020. The budget for 2020 strengthens support for the EU's priority areas and best-performing programmes, including Horizon 2020. The Parliament and the Council now have 14 days to formally approve the agreement reached. The Council is expected to endorse it on 25 November. The vote in the European Parliament is scheduled for 27 November.
