Last month, the EU’s Council of Ministers proposed cutting the €146bn budget for 2015 by €522m and the €142bn payments proposal by €2.1bn.

But, the Budgets Committee warned that cuts would affect EU growth policies, education programmes and its humanitarian and support work in Syria, the Ukraine and Palestine.

Today, it has been announced that funding would be restored for commitments in 2015 after a vote was taken at the end of last month.

The committee said it would reverse all cuts made by the Council of Ministers in the 2015 budget as proposed by the European Commission.

It also said it would reverse Council cuts in funding available for settling invoices, adding €4bn to the Commission proposal to ensure that bills from closing programmes are paid and prevent any serious payment shortfalls.

Spanish MEP and Budget Committee vice chair Eider Gardiazábal Rubial, who is in charge of steering the bulk of the budget through the European Parliament, said: ‘Priority programmes to stimulate growth, enhance competitiveness and foster job creation were backed by the European Council itself.

‘Yet EU member states have failed to back up their commitment with sufficient funding. The EU budget is an investment tool which can provide life-saving resources to small firms, NGOs, and local authorities.’