New EU own resources to strengthen Europe’s long-term budget
In July 2025, the European Commission presented its first proposal for the 2028–2034 EU budget, including a reform of ‘modern revenues’ centred on five new own resources. These are intended to cover annual Next Generation EU (NGEU) debt repayments from 2028 and partly replace national contributions. This paper outlines why the current revenue system urgently requires reform, summarises the European Commission’s proposal, and offers an initial assessment. Looking ahead, the post-2027 MFF should pair expenditure reform with a modernised revenue system. A balanced basket of genuine new own resources –supporting EU goals, reducing net-position politics and tapping areas where national taxation is ineffective– could strengthen EU finances and address funding gaps.
Check out our web dossier An MFF fit for purpose Assessing Europe’s long-term budget.