Norbolsa | The European Commission announced on Thursday a budget proposal of €2 trillion for the period 2028-2034, which seeks to strengthen economic competitiveness, double investment in innovation and increase defence spending fivefold. Von der Leyen defines it as a budget to finance the new era, in line with European ambition, which faces challenges and strengthens the bloc’s independence. Most of the funds come from member state contributions, but the Commission is proposing new financing methods, including a new tax on companies established in Europe with a turnover of more than €100 million. This new proposal has already drawn criticism, notably from the finance ministers of the Netherlands and Germany, who have criticised the size of the budget.
EU proposes strengthening bloc’s independence with €2-trillion budget for 2028-2034
