On 16 July 2025, the European Commission presented its most ambitious long-term budget to date, proposing a spending package worth nearly € 2 trillion for the period 2028 – 2034. The presented proposal for the next Multiannual Financial Framework (MFF) aims to boost Europe’s competitiveness, security, climate goals, and geopolitical influence.
What’s new compared to the previous MFF?
The new Multiannual Financial Framework is significantly different from its predecessor. The budget should make the EU’s ability to implement policies a lot better, address new and emerging priorities and, above all, continue to support the people, businesses and regions of the EU. Key features of the new MFF:
- More flexibility across the budget to act and react faster when circumstances change;
- Simpler, more streamlined and harmonised EU financial programmes to make it easier to find and access funding opportunities;
- Budget for local needs with National and Regional Partnership Plans. This will improve the support of the EU on a more regional level;
- A new EU Competitiveness Fund to improve the global competitiveness of EU industries;
- Improvements on own resources for more revenues and minimising the pressure on national public finances.
How will the budget be allocated?
The proposed budget of € 2 trillion for the new Multiannual Financial Framework:
| Action | Budget in billion EUR |
| National and Regional Partnership Plans | 865 |
| European Competitiveness Fund and Horizon Europe | 409 |
| Erasmus+ & AgoraEU | 49 |
| Global Europe | 200 |
| Other | 293 |
Delivering results that countries cannot achieve alone
This long-term budget is designed to ensure that EU funding is contributing to goals that EU countries cannot achieve alone. In general, it focuses on
- Investing in people, EU countries and regions;
- Fostering education and democratic values;
- Driving prosperity via competitiveness, research and innovation;
- Protecting people and building preparedness;
- Protecting Europe;
- Building partnerships for a stronger Europe in the world;
- Generating new own resources to match ambitions with countries.
Adoption
The proposed budget will be negotiated with the EU Parliament before final adoption. Its planned to come into force in January 2028.
