BusinessEurope warns that the Irish Presidency’s latest proposal for the EU’s 2028-2034 budget would disproportionately cut funding for competitiveness and research, while the proposed Corporate Resource for Europe (CORE) would impose a damaging new burden on companies, weakening their ability to invest and compete.
The latest proposal would reduce the overall budget by €141 billion, or 8%, compared with the Commission’s proposal. The cuts would fall particularly heavily on the competitiveness, prosperity and security heading, which would lose €67 billion, or 13%, while Global Europe would lose €33 billion, or 17%. These figures are measured against the Commission’s proposal, in constant 2025 prices.
BusinessEurope Director General Markus J. Beyrer said:
“Europe cannot make competitiveness its top priority and then disproportionately cut the funding needed to deliver it. We support adequate funding for cohesion policy, which can also help strengthen competitiveness. But Europe urgently needs to close its innovation and productivity gaps. Horizon Europe and the European Competitiveness Fund are key instruments for turning research into innovation, investment and growth. Their funding must reflect that ambition.
Financing the EU budget must not weaken the businesses that drive Europe’s growth. BusinessEurope firmly rejects Corporate Resource for Europe, which would impose an annual levy based on companies’ turnover, regardless of whether they make a profit. European businesses already face comparably high taxes, high energy costs, heavy regulatory burdens and fierce global competition. Adding another cost would further weaken their capacity to invest in Europe.
The next EU budget must help companies innovate, grow and compete. EU leaders should protect investment in Europe’s future and not add new burdens that undermine it.”
