European Commission President von der Leyen unveils ambitious €2 trillion budget proposition focused on technological advancements, security matters, and agricultural support
The European Commission has proposed a landmark €2 trillion budget for the 2028-2034 period, marking the most ambitious financial framework in EU history. This budget, known as the Multiannual Financial Framework (MFF), aims to support Europe's ambition to be independent, safe, prosperous, and thriving over the next decade.
The proposed budget, presented in July 2025, is designed to address increasing challenges in security, defence, competitiveness, migration, energy, and climate resilience with a strong, forward-looking response. It seeks to deliver results on core EU policies while adapting to new and emerging priorities.
The funding involves a balanced package of new own resources, designed to generate adequate revenues for EU priorities while minimizing pressure on national public finances. The total proposal amounts to almost €2 trillion, representing about 1.26% of the EU’s gross national income on average between 2028 and 2034.
The budget framework introduces a more flexible and adaptable financial architecture, aiming for quicker funding decisions and rolling calls. It includes €865 billion for national and regional development partnerships, €451 billion for strategic investments in clean technology, digital innovation, biotech, defence, food, and space, and €300 billion to support farmers and safeguard agricultural subsidies.
The negotiation process for the budget proposal will involve the European Parliament, the Commission, and EU member states. The process is open to changes, with stakeholders like civil society and advocacy groups already voicing opinions, for instance, on the level of ambition for climate investment. The Commission is exploring new revenue streams, including a levy on large corporations with annual revenues over €50 million and a share of national tobacco taxes.
Despite the overall positive size of the budget and earmarking roughly €700 billion for green investments, some critiques point out that inflation-adjusted figures may represent a reduction in climate-related funding compared to the current budget period, indicating a need for further negotiation on environmental goals.
In summary, the €2 trillion EU budget for 2028-2034 is designed to be a dynamic, flexible, and strategically targeted framework supporting Europe’s long-term ambitions across innovation, security, green transition, and cohesion, financed through new own resources, and subject to detailed negotiation and refinement before implementation. European Commission President Ursula von der Leyen described the budget as "a budget for a new era" reflecting Europe's ambitions and the need to boost independence in a rapidly changing global landscape. The budget is designed to address challenges such as the war in Ukraine, climate, tech investments, and protecting farmers.
[1] European Commission Press Release, "European Commission proposes €2 trillion budget for 2028-2034," July 2025. [2] European Parliament Briefing, "The EU budget for 2028-2034: Key points," August 2025. [3] Eurostat, "EU budget 2028-2034: Key facts and figures," September 2025.
- The proposed €2 trillion budget for the 2028-2034 period, a landmark financial framework in EU history, aims to support Europe's ambitions in areas such as environmental-science, where €451 billion is earmarked for strategic investments in clean technology.
- In the realm of business and technology, the budget includes funding for digital innovation, biotech, defence, food, and space, aggregating approximately €451 billion.
- The political discussions regarding the budget also involve stakeholders expressing opinions on the level of ambition for climate investment, which is a key aspect of general-news and the green transition, and approximately €700 billion is earmarked for green investments in this budget.
- The budget framework, described as "a budget for a new era," also seeks to support farmers and safeguard agricultural subsidies, amounting to €300 billion in contingencies.
