The Commission has launched 6 public consultations inviting stakeholders and citizens to have their say on the future EU budget and the policies it should finance. Many of these are relevant for the extent to which EU funding can contribute to the global amounts of investment needed to meet our decarbonisation ambitions. This process is essential for capturing a wide range of perspectives that will inform a balanced and effective long-term budget.
The EU needs to invest over €570 billion each year between 2021 and 2030 to meet its energy and climate targets. In addition, €690bn is needed annually over the next decade (2031-2040) for investments in renewable energy, including solar, wind and biomass, energy efficiency and grid capacity (see Action Plan for Affordable Energy).
The EU’s next long-term budget, the multiannual financial framework (MFF), starting from 2028, will need to be fit for this ambition. At the same time, it will have major financing obligations such as repaying borrowing for NextGenerationEU, and for strategic and security-related spending to bolster the EU’s defence, security and preparedness, financial support for Ukraine, as well as EU enlargement.
The debate on the next MFF is a valuable opportunity to rethink the EU budget, focusing on EU priorities and objectives where EU action is most needed. What is at stake for Europe is not just economic growth, but the future of its model – ensuring sustainable prosperity, competitiveness, and resilience.
The consultations are open until 6 May 2025.
Related links
- Press release: Shaping the future of the EU together: the Commission sets out the road to the next EU long-term budget (12 February 2025)
- Consultations: EU’s next long-term budget (MFF) – performance of the EU budget
