The 2028-2034 EU budget (the multiannual financial framework – MFF) should be set at 1.27% of EU GNI, with debt servicing for the NextGenerationEU recovery fund (0.11% of GNI) outside the budget ceilings, according to the interim report adopted by the Budgets Committee with 26 votes, 9 against and 5 abstentions. This represents a 10% increase compared to the Commission’s July 2025 proposal, and MEPs propose to allocate this increased funding evenly across the three headings of the budget which finance EU priorities, and to ensure that the budget is protected from inflationary shocks.

MEPs say this is the minimum amount of money the EU needs to meet its commitments, respond to citizens’ expectations, and address major challenges, including large-scale warfare in Europe, economic and social challenges, a competitiveness gap and the worsening climate and biodiversity crises. They stress that the next long-term EU budget must remain an investment budget supporting EU policies,…