The President of the Committee of the Regions (CoR), Ramón Luis Valcárcel, sent a letter to the Heads of State and Government urging them to support a bigger EU budget, warning that "new cuts in the cohesion policy heading could harm growth prospects and damage economic recovery''.
"In view of the forthcoming extraordinary European Council on 22 and 23 November, I would like to remind the leveraging effect of this investment via private and public co-financing at local, regional and national levels" Valcárcel underlined, adding that: "In the current economic climate, we believe that forgoing support from a source such as the EU budget, of which 94% is dedicated to investment and which represents the only stable, multi-annual public resource for supporting growth and jobs, would be a serious mistake".

Read President Valcárcel’s letter here.
Source: Committee of the Regions