This latest edition of 'European Union public finance' presents the financial framework 2007-13 and its impact on the European Union budget. It takes into account the European Commission’s far-reaching reforms of its internal workings and procedures. Modernising and simplifying budgetary and financial management has led to more efficient and effective financial procedures and, crucially, faster payments. Administrative reforms are also helping to ensure a closer match between activities performed and resources allocated. A must-read for anyone with an interest in European Union and public finances.