Published by Global Banking & Finance Review®
Posted on July 16, 2025
4 min readLast updated: January 22, 2026
Add as preferred source on GoogleThe European Commission's 2028-2034 EU budget proposal has sparked varied reactions, focusing on economic competitiveness, defence, and subsidy reforms.
BRUSSELS (Reuters) -Following are some reactions to the European Commission's proposal on Wednesday for a 2 trillion euro ($2.31 trillion) EU budget for 2028-2034. The proposal places a new emphasis on economic competitiveness and defence while aiming to reform the rules around farm and economic development subsidies.
An agreement on the new EU budget requires backing from all 27 member countries and sign-off from the European Parliament.
SWEDISH GOVERNMENT, IN A STATEMENT
"We can never accept that common EU funds go to countries that don't respect basic democratic principles and European values"
"We won't solve the EU's problems with a bigger budget and increased EU contributions, rather through using current resources in a smarter way and putting money where it is really needed."
DUTCH FINANCE MINISTER EELCO HEINEN,
"The proposed budget is too high. We should not always focus solely on how the EU can spend more, but rather on how existing funds can be spent better"
"This requires tough choices. The financial contribution of the Netherlands to the EU is already significant. We therefore want to see an improvement in our net payment position ... As far as the Netherlands is concerned, new instruments for joint debt are therefore not on the table."
FRANCE'S EUROPE MINISTER, BENJAMIN HADAD
"I welcome the ambition for the new multiannual financial framework presented today by the European Commission"
"I will be ... in Brussels on Friday to defend our priorities: the rearmament of the European continent, supporting our competitiveness and technological sovereignty, the income of our farmers, and the creation of our own resources."
EUROPEAN COUNCIL PRESIDENT, ANTONIO COSTA
"I welcome the presentation of the proposal on the EU long-term budget by the European Commission, a step which will allow the Council to start working. A budget is not just about numbers— it is the ultimate political decision, a choice about our future, and we need to approach this debate with an open mind and spirit of collective responsibility."
LEAD MEMBERS OF EUROPEAN PARLIAMENT: SIEGFRIED MURESAN, CARLA TAVARES, SANDRA GOMEZ LOPEZ AND DANUSE NERUDOVA
"This draft budget does not leave sufficient funds for critical priorities including competitiveness, cohesion, agriculture, defence, climate adaptation and the investment necessary for a sustainable economy that works for all."
"Parliament stands ready to use all its powers to their full extent to ensure that the next long-term budget matches the Union's ambitions and challenges."
LINDA KALCHER, EXECUTIVE DIRECTOR OF PAN-EUROPEAN THINK TANK STRATEGIC PERSPECTIVES ON CLIMATE BUDGET
"The inclusion of a 35% climate mainstreaming in the new budget shows the Commission is still serious about supporting decarbonisation efforts across the continent... This is essential to make the 90% climate target by 2040 achievable. It is however a wasted opportunity not to strictly exclude fossil fuel funding from the budget."
NGO EUROPEAN NETWORK ON DEBT AND DEVELOPMENT (EURODAD)
"The restructuring of the budget puts at risk the EU's central role in fighting poverty, responding to global crises, and supporting those living in the Global South. The Commission is proposing to merge existing external action instruments into one called Global Europe. This move increases the risk that funding is diverted to serve short-term political gains, rather than used to tackle poverty and inequalities."
ARNAUD ROUSSEAU, HEAD OF FRANCE'S BIGGEST FARMING UNION FNSEA
"Madame President, your budget and CAP proposal are nothing more or less than a provocation towards the agricultural world. Rethink your approach! There will be no rise in Europe's power without food rearmament!"
(Reporting by Charlotte Van Campenhout, Kate Abnett, Simon Johnson, Anita Komuves, Sybille de La HamaideEditing by Frances Kerry)
The European Commission proposed a budget of 2 trillion euros ($2.31 trillion) for the period of 2028-2034.
The Swedish government stated that they cannot accept EU funds going to countries that do not respect democratic principles and emphasized the need for smarter use of current resources.
Dutch Finance Minister Eelco Heinen criticized the proposed budget as being too high and stressed the importance of better spending of existing funds rather than increasing the budget.
Members of the European Parliament highlighted that the draft budget does not allocate sufficient funds for critical priorities such as competitiveness, cohesion, agriculture, and climate adaptation.
Eurodad expressed concern that the restructuring of the budget could jeopardize the EU's role in fighting poverty and responding to global crises, particularly affecting those in the Global South.
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