Reported in late November, the Council and the European Parliament have reached agreement on an EU budget for 2020, which strongly focuses on growth and competitiveness, climate action and other EU priority areas such as security and management of migration. Total commitments from EU member states are set at €168.7 billion. This is an increase of 1.5% compared to the 2019 budget. The agreed figures are based on the premise that the UK will also continue to participate fully in the financing and implementation of the EU budget for 2020.