Do institutions help achieve greater value for spending European taxpayers’ money?

The European Union (EU) budget is about one percent of the Gross Domestic Product (GDP) of all Member States amounting to about €240 per annum, per citizen. The EU budget redistributes more than €150 billion annually. These funds are directed towards agriculture and regional policy, which operate to help less developed countries and local communities. Millions of euros are spent on rebuilding roads or hospitals or for the educational and vocational training of thousands of European citizens’. A significant proportion of this money goes towards underdeveloped and economically less well-off regions, especially across Southern, Central, and Eastern Europe (see Figure 1).