Back to today’s briefing

Story perspectives

EU Parliament Proposes €2 Trillion Budget, Shifts to EU Taxes

4/29/2026

27 2 Full Breakdown

Summary

Story summary

European Parliament has proposed raising the EU’s 2028-2034 long-term budget to over €2 trillion.
Commission President Ursula von der Leyen says the budget should rely more on EU-wide taxes than on national contributions.
EU leaders must adopt the budget by end-2027, aiming for a deal by end-2026.
The budget must also repay the €390 billion COVID-19 recovery debt while funding agriculture, regional development, industry, innovation and defence.

1 of 1

Story summary

European Parliament has proposed raising the EU’s 2028-2034 long-term budget to over €2 trillion.
Commission President Ursula von der Leyen says the budget should rely more on EU-wide taxes than on national contributions.
EU leaders must adopt the budget by end-2027, aiming for a deal by end-2026.
The budget must also repay the €390 billion COVID-19 recovery debt while funding agriculture, regional development, industry, innovation and defence.