This document is an excerpt from the EUR-Lex website
Glossary of summaries
The EU's own resources are the main sources of revenue for the EU budget. Its annual expenditure may not exceed its revenue (i.e. it operates a balanced budget).
There are 3 types of own resource:
Correction mechanisms have been introduced to correct what is perceived as excessive contributions by certain countries, e.g. Germany, the Netherlands, Sweden & the United Kingdom.
In 2014, the Council adopted a new own resources decision which introduced some changes - in particular concerning the correction mechanisms - for the 2014-2020 period. It enters into force only after ratification in EU countries but the new provisions are to be applied retroactively from 1 January 2014.
A high-level group on own resources was also set up in 2014 to suggest improvements to the system.