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When it comes tothe period of 2014-2020, the following budget was prepared. In total, it makes nearly80 billion1euro being distributed into five categories to which three pillars and twospecific objectives belong.

Before getting to particular categories, we willexplain two important terms in which the total budget can be expressed. On onehand, there are current prices, on the other constant prices. Current pricesrefer to the amount that will be effectively requested to the budgetaryauthority each year (European Commission, 2013, s. 1).

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They include 2% inflationeffect set in the Multiannual Financial Framework (MFF). Calls, legal bases andannual budgets are always expressed in current values, as this equals to themoney finally distributed to beneficiaries. Constant prices do not take aninflation effect into consideration and and are fixed at 2011 values. (European Commission, 2013, s.

1). The negotiations aboutthe H2020 budget proceeded in the following way:  „The  initial  proposal  of the  Commission  in  November  2011  set  the budget  for Horizon 2020 at €87.7 billion.

 The final decision in December 2013, after consideration under  the  ordinary  legislative  procedure, reduced  that  budget  to  €77 billion.  In June 2015, the adoption of the European Fund for Strategic Investments (EFSI) further lowered the amount to €74.8 billion. Between 4 and 5% of the programme’s budget will be used for its administrative management, leaving an operational budget for the programme of slightly under €70 billion. (Reillon, 2015, s. 6).” Horizon 2020 isdivided into three pillars and two specific objectives in accordance to itsmain priorities.

The most money amounting to 38,53% of the total budget, whichmakes 29,679 billion euro (in current prices), will be distributed to the thirdpillar: Societal Challenges. The second, most supported pillar isthe first one, called Excellent Science. Itwill be supported with 31,73% of the final budget, making up 24,441 billioneuro (in current prices). 22,09% will be given to the second pillar, called Industrial Leadership, which amounts in17,016 billion euro (in currentprices).

The more supported objective out of the two is Spreading excellence and widening participation, being granted1,06% of the total budget. This equals to 816 million euro (in current prices). Lastly, 0,60% of the totalbudget goes to Science with and for society,amounting to 462 million euro (in current prices). The rest of 4,614 billioneuro will be divided between the European Institute of Innovation andTechnology (3,52%) and the Non-nuclear direct actions of the JRC (2,47%). Thetotal EU Regulation makes 77,028 billion euro the total EURATOM Regulation2014-2020 1,603 billion euro.2 To conclude, we would like to present a table3which demonstrates a development of European researchand innovation policies since 1984:     Framework programme Period Budget (billion €) Legislative procedure         FP1 1984-1987 3.3 Consultation procedure         FP2 1987-1991 5.

4 Consultation procedure         FP3 1990-1994 6.6 Consultation procedure         FP4 1994-1998 13.2 Co-decision procedure         FP5 1998-2002 14.9 Co-decision procedure         FP6 2002-2006 19.3 Co-decision procedure         FP7 2007-2013 50.5 Co-decision procedure         Horizon 2020 (FP8) 2014-2020 74.8 Ordinary Legislative Procedure          The difference between the Horizon 2020 programme and the previousframework programmes is not only in its name, but also in the fact that itincludes previously separate programmes funding research and innovation (Competitiveness and Innovation Framework Programme-CIP and EuropeanInstitute of Innovation and Technology-EIT).

This was made in order to reducethe complexity of the EU programmes and to simplify the administrative processesfor participators. Finally, this table shows, that the research and innovationpolicies became increasingly important since 1984. 1 The exact amount varies from document to document, depending alsoon the year of issue and the current price–constant price difference explainedabove. Here (European Commission, 2018) the total sum of 80billion is stated. In (Reillon, 2015, p.4) the total amount of  74,8 billion is listed. Lastly, (European Commission, 2013, s. 4)states the total budget is 78,6 billion euro in current prices.

2 For comparison see (European Commission, 2013, s. 2-3) and (European Commission, 2018) under the section „Horizon 2020 structure and budget”.3 see (Reillon, 2015, s. 4).

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