Primary Law
3 instruments€2 trillion total budget framework (2028–2034). Major headings: Cohesion (€392B), CAP (€386B), Defence (€150B new), Migration (€35B), Digital/AI (€47B), Climate (€180B). Unanimity required in Council. EP consent vote final step. Net contributors (DE, NL, AT, SE, DK) demanding cap at 1.1% GNI; Commission proposes 1.3% GNI.
New EU revenue streams to finance €2T MFF: CBAM revenues (€10–14B/yr from 2026), ETS auctioning expansion, digital levy on large platforms (€8–12B/yr), financial transaction tax (still contested), corporate statistics-based contribution. Without new own resources, MFF ambition requires higher national contributions — politically toxic for net contributors.
€750B COVID recovery borrowing repayment starts 2028. €18B/yr from MFF ceiling until 2058. Competes directly with new MFF spending demands. Without new own resources, repayment reduces available spending by ~€126B over MFF period. Germany/Netherlands insist repayment from existing ceiling; Commission wants additional headroom.