An MFF fit for purpose

Assessing Europe’s long-term budget

With the Multi-Annual Financial Framework (MFF), the European Union defines its long-term budget – and with it, its political priorities for the years to come. In July 2025, the European Commission published its proposal for the MFF 2028-2034, and long and protracted negotiations will follow. Policy makers now have the opportunity to scale up ambition and deliver on climate, social, economic and security objectives. With this web dossier, we want to give an overview over the different topics EU policy makers will need to address, and give space for commentary and analysis on the MFF.

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Papers

Green priorities for a better EU budget

Paper

The European Commission’s proposal for the 2028–2034 MFF opens a chance to raise ambition on climate, social, economic and security goals. This framing paper outlines key budget needs, priority areas and governance reforms to equip the EU with a stronger, more effective long-term financial framework.

Georg McCutcheon, Anton Möller, Taube Van Melkebeke

The 2028–2034 EU long-term budget: what’s in it for climate?

Paper

The MFF proposal sidelines climate and the environment, inflates green spending claims, and weakens safeguards through flexibilisation and programme mergers. This paper assesses the spending target, the Do No Significant Harm principle, and climate and environmental provisions in the proposal’s two largest programmes.

Till Eichler

New EU own resources to strengthen Europe’s long-term budget

Paper

The European Commission’s new MFF proposal introduces five new own resources to fund Next Generation EU debt and modernise EU revenues. This paper assesses the package and argues for a balanced basket of genuine new resources to support EU goals, reduce net-position politics and close major funding gaps.

Dr. Margit Schratzenstaller

Advancing social policy in the 2028–2034 EU Multiannual Financial Framework

Paper

The 2028–2034 MFF proposal acknowledges social pressures but risks diluting the EU’s social dimension. Social spending is consolidated in new National and Regional Partnership Plans Plans without a dedicated European Social Fund line, while guarantees are weakened. Major challenges include limited funding, weaker local roles and competing budget objectives.

Réka Tunyogi

The missing middle: strengthening Member State accountability and regional inclusion in the next MFF

Paper

The next MFF proposes centralised National and Regional Partnership Plans, shifting power to national governments and the European Commission. While promising coherence, this risks weaker regional involvement and oversight. Effective governance will depend on strong Member State accountability and safeguarding inclusive, transparent delivery.

Tsvetelina Kuzmanova

Related content

Budgeting for security?

Discussion paper

The ReArm Europe/Readiness 2030 proposal has limited fiscal impact and is unable to address the persistent lack of coordination among Member States, as it does not adequately incentivise joint procurement. Instead, the authors suggest to future-proof the EU's fiscal rules and develop an EU grants-mechanism tied to strategic cooperation, greater parliamentary oversight, and a broader concept of security that includes climate and democratic resilience.

Anton Möller, Georg McCutcheon

EU defence industrial policy in a new era

E-paper

The 2024 re-election of Donald Trump as US president, and the realignment of US security strategy that is expected to follow fundamentally changes Europe’s security outlook. The EU cannot become Europe’s security provider, but it can, through its defence industrial policy, support the funding and organization of the rearmament effort.

Sophia Besch

Shaping the EU's Financial Architecture for the Future

Policy Paper

The European Union faces the enormous challenge of having to achieve the necessary climate targets it has set itself, while at the same time increasing industrial competitiveness and ensuring public services of general interest. A sustainable European financial architecture based on three pillars is needed to finance these green-social investments at EU level. It is presented in this policy paper.

Dr. Margit Schratzenstaller, Dr. Philipp Heimberger

Contact

Anton Möller

Head of Programme - Green Economic and Social Policy in the EU, Heinrich-Böll-Stiftung European Union | Global Dialogue

Georg McCutcheon

EU Policy Advisor, Heinrich-Böll-Stiftung, Berlin