A newly elected European Parliament is gearing up for an active agenda fresh with competencies and a renewed focus on budgetary oversight. Parliament is poised to play a more assertive role in the coming weeks. MEPs will delve into multiple legislative priorities, from bolstering European defensive capabilities to ensuring investor protection and confidence. Navigating these challenges will test Parliament’s ability to balance legislative and oversight functions.
An immediate task is the election of a new European Commission. MEPs have voted in favour of new competencies increasing scrutiny in the selection process, including the right to hold special scrutiny hearings questioning Commissioners on relevant political issues. These special scrutiny hearings, as well as ad hoc plenary sessions, can also be held with the President of the Commission or selected Commissioners without a predetermined subject, to be held only once per plenary session. In light of new competencies and coming off a month-long break from EU affairs, Parliament is in no hurry to vote on new commissioners. “The nominees want as many days as possible to prepare,” said a senior parliamentary official, insisting on the benefit of being patient in this regard.
The European Parliament is assuming a prominent role in budgetary matters. A newly integrated approach will see legislative committees working hand in hand with budget experts throughout their respective processes. In addition, future legislative proposals impacting the EU budget must undergo a budgetary assessment. Parliament will enhance its budget monitoring process to ensure funds are used efficiently after allocation. By the end of 2024, MEPs hope to reach an agreement to secure “robust funding of EU programs and sufficient money set aside for internal and external security and unforeseen challenges.” Next week, all parliamentary committees will vote on and submit their input for the Budget Committee’s draft report for the 2025 EU budget.
In terms of legislation, the Parliament has a challenge ahead. Earlier this year, the European Commission proposed the European Defence Industry Programme (EDIP) to ensure the timely availability and supply of defence products, which will undoubtedly be under discussion. Building on the AI Act, the new AI liability directive aims to ensure that people harmed by a system that utilizes AI software are afforded the same protections as people harmed by any other form of technology. Following continued negotiations with the Council since April of this year, Parliament will continue their work on a package of laws protecting retail investors by establishing a safer and more transparent investment environment.
With a packed agenda including oversight and legislative creations Parliament’s ability to balance these two tasks will shine the light of success on this legislature of the European Parliament.
