Today, the College adopted the Commission's proposal for the next Multiannual Financial Framework: the budget for 2028-2034. It is a 2 trillion budget for a new era. A budget that matches Europe's ambition. That confronts Europe's challenges. That strengthens our independence. A budget that is larger, smarter and sharper. This is a budget that delivers for our citizens, our business,
our partners, and our future.
The next MFF will be the most ambitious ever proposed. It is more strategic, more flexible, more transparent. We are investing more in our capacity to respond and more in our independence. Yet crucially, Member States' contributions to the EU budget will remain constant as we propose a step change in the own resources.
I will outline 5 key areas. First, investing in people, Member States and regions. The National and Regional Partnership Plans with 865 billion EUR are the foundation for investment and reform. At their heart remain cohesion and agriculture. They are the central pillars of European solidarity and investment in the European model. We are safeguarding more than 300 billion EUR for farmers' and fishers' income support. This includes a doubled agricultural reserve, so our farmers' livelihoods are protected. In Cohesion we are safeguarding for less developed regions. So that investment in less developed regions has a minimum of EUR 218 billion. On Fisheries, EUR 2 billion are secured as a minimum ringfenced for fisheries. The National and Regional Partnership Plans will also provide the financial resources for social policies. Here, for the first time there is a target for social expenditure of 14%. And also for the first time, we will track social funding across the entire MFF. We are tripling investment in migration and border management. Because Europe's borders are a shared responsibility. We are tripling the Solidarity Fund, so that we can act fast and decisively when disasters strike.
And for the first time, the EU budget will back-up the possibility for Member States to invest more in the EU objectives with loans of up to 150 billion EUR . We will call it Catalyst Europe. The loans are backed by the EU budget. It targets common European priorities. You can invest it - for example in defence industry or energy infrastructure or strategic technologies. Catalyst Europe will give Member States additional means to invest in European objectives.
Within the National and Regional Partnership Plans, we propose a simple and transparent allocation system. It builds on key principles like regional disparities, poverty risk, agricultural needs, or tensions at our borders. The Plans are tailormade - European policies and priorities in their territorities and communities. The National and Regional Partnership Plans enable a more strategic allocation that reflects European priorities on the ground. For example, increased resources for border regions under security pressure. So - instead of having 10 different funds with different rules, different timelines and different criteria often overlapping – we now have the National and Regional Partnership Plans. Putting European priorities under one roof, easier to align with local needs, simpler to manage for national and local authorities, and – crucially – more powerful when combined. This is European solidarity translated into real local and national investment.
A word on the respect for the rule of law: it is unconditional. The rule of law is a must for all funding from the EU budget. And with the next MFF we go further. The National and Regional Partnership Plans will make rule of law and fundamental rights a condition for investment and a focus for reform. Rule of law applies to all funds. It will be smart conditionality. We will ensure responsible spending and full accountability with strong safeguards, clear conditions, and the right incentives. This serves the citizens.
Another important topic for Citizens, especially the young – is Erasmus+ which is increased by 50%. Beyond this we will support civil society with different programmes. For example, both the National and Regional Partnerships and the Competitiveness Fund will support LIFE activities (for the environment, biodiversity and circular economy. In addition, the new AGORA-EU programme is building on Creative Europe and CERV It will support media freedom, values, civil rights, democracy, and diversity. So far for the National and Regional Partnership Plans.
Second, powering Europe's competitiveness. We propose a European Competitiveness Fund with close to 410 billion EUR , because it is crucial to back the strategic technologies of tomorrow. This Competitiveness Fund includes a doubling of Horizon Europe, our flagship programme for science and innovation. We multiply by 5 our investment in digital to build a secure and innovative digital ecosystem. And we make major boosts in clean tech, the bioeconomy and decarbonisation with a 6 times increase of the funds from the EU budget, funding these topics. This is in addition to the climate spending target of 35% for the MFF serving the European Union's 6 environmental objectives. This amounts to around EUR 700 billion. The Competitiveness Fund is part of an agenda for European sovereignty which will enable us to secure supply chains, scale-up innovation, and lead the global race for clean and smart technology. And it answers the call made by Mario Draghi and Enrico Letta: The call for a stronger industrial base, a more integrated Single Market, and a united Europe that plays to its strengths. Third, building a Union that protects. We are proposing 131 billion EUR for the Defence and Space window within the Competitiveness Fund. That is 5 times what we havetoday. Because we know that security is a top concern for citizens and governments. And it will strengthen our industrial base and our capabilities. Besides the Competitiveness Fund is CEF. We are doubling the Connecting Europe Facility for transport. And we are multiplying military mobility by 10. So our armed forces can move faster, better, together. We are multiplying energy infrastructure spending by 5. This reinforces energy independence and accelerates the clean transition. And we significantly increase investment in cybersecurity and dual-use infrastructure. This is about European defence. European connectivity. And European readiness.
Fourth, a stronger Europe in the world. We are proposing EUR 200 billion for the Global Europe Instrument. This is an increase of 75% to match our responsibilities on the global stage. This is for Global Gateway, humanitarian aid, strategic partnerships – and most crucially our support for enlargement. Enlargement is a key priority. It is not just a political objective; it is a strategic investment in Europe's stability and prosperity. That is why we are opening the full toolbox of Global Europe to candidate countries - not only technical assistance but also support for reforms and investments, backed by resources. On top we are setting aside 100 billion EUR for Ukraine. We are doubling the Ukraine Facility - to support recovery, resilience, and their path to EU membership. And for accession – as for all accessions in the past: There is a revision clause in the MFF. The financial impact on e.g. Cohesion and Agri will be negotiated in the accession treaty. So there is a legal promise and obligation. With the accession comes a revision of the MFF. It worked in the past accessions. And it will work now.
Fifth, a budget built for resilience and agility. We are creating a dedicated crisis mechanism with a firepower of up to almost 400 billion. Because crises are no longer the exception. They are the norm. And we have learnt our lessons. When a major shock hits, the EU will be able to act fast and act with strength.
Finally, all of this has to be financed This is my sixth point, New Own Resources. Today, we are proposing new sources of revenue for the EU budget. The goal is simple: We have to repay our shared recovery borrowing and we must meet our modern priorities. And - most importantly – we want to keep national contributions stable. This budget protects the fiscal capacity of Member States. With these new own resources, we reduce the burden on national budgets, and thus match ambition with responsibility.
To conclude: This is a budget for the realities of today, as well as the challenges of tomorrow. A budget that equips us to act on our political choices, in a fastmoving world. We want greater flexibility. Not everything should be decided once for 7 years. Greater flexibility means more room for the annual budgetary decision, where Parliament and Council play a vital role. Today we have presented our proposal and now we continue the work, with the European Parliament, Member States, with citizens and businesses. Thank you.
