Von der Leyen presents ambitious €2 trillion budget aimed at tech, security, farmers

The European Commission has unveiled a bold €2 trillion budget proposal for the 2028-2034 period, marking the largest financial framework in the history of EU.

The new budget represents an €800 billion increase from the current €1.2 trillion framework and is designed to address a broad range of challenges, including the war in Ukraine, climate and tech investments, and protecting farmers.

Speaking in Brussels, European Commission President Ursula von der Leyen described it as “a budget for a new era” that reflects Europe’s ambitions and the need to boost independence in a rapidly changing global landscape, according to dw.com

The proposed budget includes €865 billion for national and regional development partnerships; €451 billion for strategic investments in clean technology, digital innovation, biotech, defense, food, and space; €300 billion to support farmers and safeguard agricultural subsidies and €100 billion dedicated to Ukraine’s long-term recovery and reconstruction following Russia’s 2022 invasion.

EU Budget Commissioner Piotr Serafin emphasized that the proposal is “the most ambitious EU budget ever,” calling it more strategic, transparent, and adaptable to Europe’s evolving priorities.

To help finance the increased spending, 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. Member state contributions, primarily from economic leaders like Germany, will continue to form the budget’s backbone.

The proposal will now move into a complex negotiation phase involving the European Parliament, the Commission, and EU member states.