(VOVworld) - EU members and the European parliament have reached a deal on a new 2015 budget after bridging gaps that threatened to scupper a deal. The two sides agreed to 141.2 billion euros in spending next year. Finance Minister Pier Carlo Padoan of Italy, which holds the rotating chair of the European Council, hailed the budget agreement, saying the deal tackles the "need to address the backlog of payments, the importance not to jeopardize member states' efforts to consolidate their public finance, and the necessity to provide indispensable stimuli for creating jobs and generating growth in the future,". The budget includes 8 billion euros in seed money aimed at helping launch European Commission chief Jean-Claude Juncker's 315 billion euro investment plan to kick start the stalled EU economy. The council said the parliament's budget committee is expected to confirm the agreement on Thursday, with the council to take a final decision on Friday and parliament on December 17.