European Parliament debates future EU budget for 2028-2034

Members of the European Parliament and European Commission President Ursula von der Leyen are debating the European Union's budget for the 2028-2034 period in Strasbourg. MEPs are advocating for a larger budget than what the European Commission has proposed to ensure effective funding for key sectors, including defense, security, competitiveness, cohesion policies, and agriculture.

To fund this increase, MEPs are proposing new revenue sources such as taxes on digital services, online gambling, and cryptocurrency transactions. Co-rapporteurs Siegfried Mureșan and Carla Tavares noted that a smaller budget would likely force member states to address challenges individually at a higher national cost.

Additionally, the session includes discussions on a new 115 million euro defense innovation program. Designed in response to the security environment shaped by Russia's war against Ukraine, the program provides financial support to small and medium-sized enterprises developing technologies in artificial intelligence, robotics, quantum technologies, and biotechnology.