EU Prepares Member States for Higher Contributions, Commissioner Says
The European Union’s budget commission is preparing member states for increased contributions to the EU’s coffers. “One percent of the EU’s economic output is not enough to secure the EU’s competitiveness, security, cohesion and global presence” said EU Budget Commissioner Piotr Serafin to the Handelsblatt (Tuesday edition).
In recent years, member states have capped the EU’s budget at one percent of the EU’s economic output. Serafin aims to change this when the next multi-annual financial framework is set from 2028 to 2034. He did not provide a specific figure, but said the commission will need to repay the COVID-19 loans by 2028.
“Alone, the debt service could absorb up to 20 percent of the EU’s budget, leaving even less room for other tasks. We cannot afford a shrinking budget in the current geopolitical context” Serafin told the Handelsblatt.
The Polish EU commissioner also called for planning joint defense spending before 2028. “From my perspective, we cannot afford to wait until the next multi-annual financial framework in 2028 to answer these existential questions” Serafin said.