EU's €2 Trillion Budget Proposal Faces Backlash from Member States

The European Commission has proposed a significant increase to the EU budget, aiming for a total of €2 trillion for the 2028-2034 period. This ambitious plan, led by European Commission President Ursula von der Leyen, is designed to address key areas such as defense, migration, and research, with a substantial portion dedicated to climate and biodiversity efforts. The proposal also includes new taxes on large corporations, tobacco, and electronic waste to generate additional revenue.

However, the proposed budget has stirred controversy and resistance among member states and the European Parliament. Critics argue it is excessively large and does not adequately address priority areas, while others are displeased with proposed cuts to agricultural subsidies and cohesion funds. The budget must gain unanimous approval from all 27 EU member states and the European Parliament, making the negotiation process potentially complex and contentious. As discussions unfold, the budget may undergo adjustments, potentially resulting in a smaller financial framework than initially proposed, despite being larger in real terms.