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European Commission: An ambitious budget for a stronger Europe – Commission proposes EU budget for 2028-2034

July 16, 2025: The European Commission has presented its proposal for the Multiannual Financial Framework (MFF) for the years 2028 to 2034. The proposed budget amounts to almost 2 trillion euros, which corresponds to 1.26 percent of Europe’s gross national income. Commission President Ursula von der Leyen said: “Our new long-term budget will help protect European citizens, strengthen the European social model and allow our European industry to flourish.”

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Fundamental reshaping of the EU budget

Europe is facing increasing challenges in many areas such as security, defense, competitiveness, migration, energy and climate resilience. These are not temporary, but reflect systemic geopolitical and economic changes that require a decisive and forward-looking response.

The Commission is therefore proposing a fundamental reshaping of the EU budget, which will be more streamlined, flexible and effective. It will significantly improve the EU’s ability to implement core policies while addressing new and emerging priorities. This budget will continue to support people, businesses, Member States, regions, partners and, above all, the EU’s common future.

President von der Leyen said: “In times of geopolitical instability, the budget will allow Europe to shape its own destiny in line with its visions and ideals. A budget that supports peace and prosperity and promotes our values is the best tool we can have in these uncertain times.”

New own resources proposed

A modern EU budget requires modernized and stable sources of income. For this reason, the Commission is also proposing new own resources and adjustments to existing own resources that will reduce pressure on national budgets and generate €58.5 billion per year.

Main features of the new financial framework

More flexibility across the budget, so that Europe is able to act and react quickly when circumstances change unexpectedly or when new policy priorities need to be addressed.
Simpler, streamlined and harmonized EU financial programmes so that citizens and businesses can easily find and access funding opportunities.
A budget tailored to local needs with national and regional partnership plans based on investment and reform to deliver targeted impact where it matters most. This will ensure faster and more flexible support for stronger economic, social and territorial cohesion across the Union.
A strong increase in competitiveness for Europe to secure supply chains, scale up innovation and lead the global race for clean and smart technologies.
A balanced package of new own resources that ensures adequate revenues for our priorities while minimizing pressure on national public finances.

The Commission’s proposal aims to ensure that EU funding is driven by EU policy priorities and delivers results that national budgets alone cannot achieve.

Next steps

The decision on the future long-term budget and the EU’s own resources will be discussed by the Member States in the Council. The adoption of the MFF Regulation requires unanimity after approval by the European Parliament. Some elements of the revenue side (in particular the new own resources) require unanimity in the Council and approval by the Member States in accordance with their respective constitutional requirements.