Proposing a Tax for Businesses with an Annual Income Exceeding 50 Million in Brussels
In a groundbreaking move, European Commission President Ursula von der Leyen has proposed a record-high 2-trillion-euro long-term budget framework for the EU from 2028 to 2034, marking the most ambitious European budget to date. This ambitious plan significantly increases funding, notably doubling resources for Ukraine aid and EU foreign policy and boosting defense-related investments fivefold.
The proposed budget, made public on July 16, 2025, is the starting point for intense negotiations among the 27 EU member states, with final approval expected only after potentially lengthy discussions by 2027.
Key features of this budget include a 600-billion-euro increase compared to the 2021-2027 budget, signaling a major expansion in EU spending capacity. About 200 billion euros will be allocated to "Global Europe," an instrument aimed at financing foreign policy and enlargement initiatives. The budget also focuses on several strategic priorities such as investing in people, enhancing Europe's competitiveness, building a Union for protection, and strengthening Europe on the global stage.
Plans to double funding for the Horizon Europe research program and multiply by five investments in digital innovation, as well as a sixfold increase in support for clean technology, bioeconomy, and decarbonization efforts, are also part of this ambitious budget.
Von der Leyen described this budget as essential for helping Europe protect its citizens, uphold its social model, promote peace and prosperity, and respond effectively to systemic geopolitical and economic challenges. It is designed to enable Europe to "shape its own destiny" amid ongoing uncertainties.
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[1] European Commission (2025). Proposal for a Regulation of the European Parliament and of the Council on the long-term EU budget 2028-2034. [2] European Commission (2025). Factsheet: The EU budget 2028-2034. [3] European Commission (2025). Press release: Commission proposes record-high long-term EU budget of €2 trillion. [4] European Commission (2025). Q&A: The EU budget 2028-2034.
- The proposed EU budget for 2028-2034, worth 2 trillion euros, is a significant step in the fashion of European politics, as it marks the most ambitious European budget to date, boosting defense-related investments, foreign policy, and enlargement initiatives.
- This ambitious budget plan, currently accessible through registered subscribers, also includes a focus on business aspects such as investing in people, enhancing Europe's competitiveness, and supporting clean technology, all of which have implications for the finance sector.
