Where will the money go after 2027? MEPs set priorities for the future EU budget

The Parliament on Thursday approved its vision for the EU's next multiannual financial framework, the post-2027 budget, which MEPs say should be more modern, more resilient to crises and more responsive to the real challenges of today.

First and foremost, MEPs want more money for defence, energy security, research, digitalisation, competitiveness and climate action. They also stress that the budget must remain strong enough for traditional areas such as agriculture, cohesion and external aid.

At the same time, Parliament calls for greater flexibility to allow money to be moved more quickly in the event of unexpected crises - such as pandemics, wars or natural disasters.

MEPs are also calling for a reform of the EU's own revenue system - money that the EU collects itself, not through contributions from member states. They want to introduce new sources, for example from emissions trading or taxes on corporate profits. These would help finance common spending while paying down the EU's debt incurred during the pandemic.

Parliament also insists that the new budget should better respect the rule of law and contain instruments to limit funding in cases of violations of the EU's fundamental values.