EU Commission Presents €2 Trillion 2028-2034 Budget With Enlargement Contingency

European Commission President Ursula von der Leyen has presented the EU's proposed Multiannual Financial Framework (MFF) for 2028-2034, unveiling a €2 trillion budget designed for a "new era" that addresses Europe's challenges and ambitions. The plan seeks to simplify EU spending by consolidating 52 programs into 16 funds, with €865 billion allocated to national and regional partnership plans, merging agriculture, cohesion, fisheries, social, and rural funding. Key priorities include tripling the budget for migration and border management, doubling the Horizon Europe research fund, and ensuring that 35% of the budget targets climate and biodiversity objectives. The proposal also includes a €200 billion “Global Europe” instrument to support external commitments and candidate countries, with an additional €100 billion reserved for Ukraine’s recovery and EU accession. Importantly, the budget is designed to remain flexible, with a clause for revision if new countries join the EU, necessitating negotiation on financial contributions and cohesion payments. The plan maintains member states' contributions at current levels while proposing a major shift in EU revenue sources, requiring approval by all member states and the European Parliament.