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Sessions including 'Benedetto'
Presentations including 'Benedetto'
After Next Generation: Financing the EU's Budget in the Future
Giacomo Benedetto
Royal Holloway University of London, United Kingdom
In the last 15 years, the EU's core budget has undergone many temporary and ambitious changes through its linkage to numerous funds outside the budget, with regard to macroeconomic assistance (EFSM), Development (EFSD+), Investment and Innovation (InvestEU and EFSI), or the EU's Recovery Instrument (NGEU and the RRF). However, the core budget remains small at just over 1 percent of gross national income and unable to meet unforeseen challenge if there lacks a majority to construct temporary instruments like those mentioned above. In 2024, the expansion of the European Defence Fund and the Ukraine Reserve within the core budget rather than through temporary instruments, suggests an upwards turn in the size of the budget may be possible. Innovation would be required in the budget's financing through new sources of revenue. This paper analyses the financial and policy challenges and the type of package deal that might appeal to Member States that otherwise fear they have something to lose under a new agreement.
Session Details:
OT 203: Financing Europe's Future: Budgets, Fiscal Reform, and Regional Competitiveness Time: 01/Sept/2025: 2:00pm-3:30pm · Location: SLB 2.06