The European Commission has presented a groundbreaking proposal for the next EU budget, covering the period from 2028 to 2034. This ambitious draft outlines a financial framework of nearly €2 trillion, marking a significant increase from the current budget. The proposed budget aims to address various priorities, including defense, security, and environmental sustainability, while also enhancing the EU's economic competitiveness.
Commission President Ursula von der Leyen described the budget as a 'new era' for Europe, emphasizing its role in reinforcing the EU's independence and capacity to respond to unforeseen challenges. Notably, the draft suggests a substantial increase in funding for defense and space programs, allocating €131 billion, which is five times more than previous budgets.
Additionally, the proposal includes a €400 billion fund to support struggling industries and a €100 billion off-budget fund dedicated to long-term assistance for Ukraine. There's also a focus on reinforcing the EU's infrastructure and military capabilities, with a tenfold increase in investment, and a tripling of funds for migration and border control.
The plan introduces new sources of revenue, such as emission trading systems and specific taxes on tobacco and electronic waste, to support the budget's ambitious scope. However, the proposal also includes controversial cuts, particularly to the Common Agricultural Policy, which is set to decrease by nearly 30% in real terms.
As negotiations commence with EU member states and the European Parliament, the proposed budget reflects the Commission’s strategic priorities for a resilient and autonomous Europe, setting the stage for extensive discussions in the coming years.
