The multiannual financial framework is essentially the European Union’s long-term budget plan. It sets the spending priorities and limits for the EU for several years, ensuring that the EU’s financial resources are in line with its political and economic goals. The multiannual financial framework sets out the structure for annual budgets and helps balance the competing interests of EU countries.
It allocates financial resources across a variety of areas, including funding for less developed regions, subsidies and rural development, humanitarian aid and investments in the green and digital transitions, and in EU foreign policy.

The Multiannual Financial Framework

The parliamentarians are expected to call for a significantly more ambitious long-term EU budget to match EU citizens' expectations in an increasingly complex global landscape. They are likely to argue that the current budget ceiling of 1% of the EU-27’s gross national income is insufficient to respond effectively to the growing range of crises and challenges.

The&nbsp;text&nbsp;prepared by the Budgets Committee highlights that the United States’ retreat from its global role means EU spending will now have to address Russia’s war of aggression against Ukraine, in addition to a highly challenging economic and social backdrop, a competitiveness gap, and the worsening climate and biodiversity crisis.

Parliament’s priorities for the next long-term EU budget are designed to feed into the Commission’s proposal on the next MFF, due to&nbsp;&nbsp;be unveiled in July.

The EU’s 2021-2027 long-term budget, together with the NextGenerationEU recovery instrument, amounts to €2.018 trillion in current prices (€1.8 trillion in 2018 prices).&nbsp;The package consists of the long-term budget, the 2021-2027 multiannual financial framework, made up of €1.211 trillion in current prices (€1.074 trillion in 2018 prices), combined with the temporary recovery instrument, NextGenerationEU, of €806.9 billion (€750 billion in 2018 prices).

EU Multiannual Financial Framework 2021-2027

The common agricultural policy (CAP) is one of the oldest common policies in the EU. Its significance is reflected in the proportion of the EU's budget devoted to it, representing approximately 40% of the total. Developed at a time when Europe was unable to meet most of its own food needs, it was necessary to encourage farmers to produce food by means of guaranteed prices. The policy has undergone regular reform and has evolved over the years.

As part of the preparation of the EU budget for 2021-2027, the European Commission put forward a new set of regulations to shape the future CAP on 1 June 2018. The proposal for a regulation on the financing, management and monitoring of the CAP provides the legislative framework for adapting the financing, management and monitoring rules to a new CAP delivery model.

See more on this topic by visiting our <a href="https://multimedia.europarl.europa.eu/en/common-agricultural-policy-8th-parliamentary-term_6503_pk">package</a> for the 8th parliamentary term.

Common agricultural policy (2019-2020)

Launched in 1962, the EU’s common agricultural policy (CAP) is a partnership between agriculture and society, and between Europe and its farmers. It aims to: support farmers and improve agricultural productivity, ensuring a stable supply of affordable food; safeguard European Union farmers to make a reasonable living; help tackle climate change and the sustainable management of natural resources; maintain rural areas and landscapes across the EU; keep the rural economy alive by promoting jobs in farming, agri-food industries and associated sectors.

The CAP is a common policy for all EU countries. It is managed and funded at European level from the resources of the EU’s budget. CAP 2023-27 To consolidate the role of European agriculture for the future, the CAP has evolved over the years to meet changing economic circumstances and citizens’ requirements and needs.

The CAP 2023-27 entered into force on 1 January 2023.&nbsp;Support for farmers and rural stakeholders across the 27 EU countries is based on the CAP 2023-27 legal framework and the choices detailed in the&nbsp;CAP Strategic Plans, approved by the Commission. The approved Plans are designed to make a significant contribution to the ambitions of the&nbsp;European Green Deal,&nbsp;Farm to Fork Strategy&nbsp;and&nbsp;Biodiversity Strategy.

Common agricultural policy (CAP)

There have been five multiannual financial frameworks (MFFs) to date. The Treaty of Lisbon transformed the MFF from an interinstitutional agreement into a legally binding act.

Established for a period of at least five years, an MFF must ensure that the Union’s expenditure develops in an orderly manner and within the limits of its own resources, and sets out provisions with which the annual budget of the Union must comply, thus laying down the cornerstone of financial discipline.

EU Multiannual Financial Framework 2021-2027 - 8th Parliamentary term

Confeence of Presidents: 

Exchange of views with Ms VON DER LEYEN, President of the European Commission, on the post-2027 Multiannual Financial Framework

Conference of Presidents: Exchange of views with Ursula VON DER LEYEN, EC President on the post-2027 Multiannual Financial Framework

MEPs debate on Tuesday and vote on Wednesday on Parliament's vision for the next multiannual financial framework (MFF).
The parliamentarians call for a significantly more ambitious long-term EU budget to match EU citizens' expectations in an increasingly complex global landscape. They argue that the current budget ceiling of 1% of the EU-27’s gross national income is insufficient to respond effectively to the growing range of crises and challenges.

The text prepared by the Budgets Committee highlights that the United States’ retreat from its global role means EU spending will now have to address Russia’s war of aggression against Ukraine, in addition to a highly challenging economic and social backdrop, a competitiveness gap, and the worsening climate and biodiversity crisis. Parliament’s priorities for the next long-term EU budget are designed to feed into the Commission’s proposal on the next MFF, due to be unveiled in July. The co-rapporteurs give a press conference on Wednesday at 14.00, following the vote in plenary.

Revamped long-term budget for the Union

Meeting of the EP Conference of Presidents in the presence of Ursula VON DER LEYEN, President of the European Commission

Press conference - Outcome of the MFF revision vote

Multi-Financial Framework Contact Group

Press conference on the MFF negotiations

EP Plenary session - The EU’s post-2027 long-term budget: Parliament’s expectations ahead of the Commission’s proposal

EP Plenary session - A revamped long-term budget for the Union in a changing world

BUDG committee - vote on EU multiannual financial framework (MFF)

Press conference on the Outcome of the MFF revision vote.

EP Plenary session - Joint debate on MFF revision

Press conference on the Reform of the EU's long-term budget MFF: outcome of the vote on Parliament's interim report

Nicola PROCACCINI (ECR, IT) and Patryk JAKI (ECR, PL), ECR Group Co-Presidents, hold a press conference on the priorities of their group. This transcription is a result of an automatic process. Please check against delivery.

Press briefing by Nicola PROCACCINI (ECR, IT) and Patryk JAKI (ECR, PL), ECR Group Co-Presidents

Manfred WEBER (EPP, DE), EPP Group President, holds a press conference on the priorities of his group.

Press briefing by Manfred WEBER (EPP, DE), EPP Group President

MEPs vote on: Amending the multiannual financial framework for the years 2021 to 2027; Request for waiver of the immunity of Petr Bystron; Amending certain agricultural products Regulations as regards certain market rules and sectoral support measures in the wine sector and for aromatised wine products; Making available on the market of measuring instruments: electric vehicle supply equipment, compressed gas dispensers, and electricity, gas and thermal energy meters; Bilateral safeguard clause of the EU-Mercosur Partnership Agreement and the EU-Mercosur Interim Trade Agreement for agricultural products; Framework for achieving climate neutrality; European Union designs; Appointment of the Vice-Chair of the Supervisory Board of the European Central Bank; European Central Bank – annual report 2025.

Voting session, including vote on climate neutrality and ECB annual report

Ursula von der LEYEN, President of the European Commission, gives her first State of the European Union address during a debate in the European Parliament since being re-elected. In her speech, Ursula von der LEYEN outlines the impact of the Commission’s work since it started its new mandate, and plans for the future. In this part of her speech, she notably speaks about competitiveness, single market and AI. She also asks to move fast on the Circular Economy Act and proposes an Industrial Accelerator Act for the key strategic sectors and technologies. This transcription is a result of an automatic process. Please check against delivery.

State of the European Union - #SOTEU2025: statement by Ursula von der LEYEN, President of the European Commission (part 4 - Economic competitiveness and Innovation)

MEPs outline their priorities ahead of the presentation by the Commission of its proposal on the next multiannual financial framework (MFF). They spell out their positions and expectations for the EU’s post-2027 long-term budget. Parliament adopted a resolution on the future MFF during its May plenary session, asking for a “significantly more ambitious” budget, and arguing that the current spending ceiling of 1% of the EU-27’s gross national income is not enough. MEPs also rejected the Commission’s idea of replicating the Recovery and Resilience Facility’s "one national plan per Member State" model in the EU’s new long-term budget. Instead, they demand a structure that ensures transparency and parliamentary accountability, and involves regional and local authorities.

Council and Commission statements - The EU’s post-2027 long-term budget: MEPs debate part 2

This infoclip shows illustrative footage on the European economy and the multiannual financial framework (MFF) such as competitiveness, tariffs, jobs and artificial intelligence. The MFF is the long-term budget of the EU and is established for a period of seven years and lays down the maximum spending ceilings for different policy areas. Parliament’s vision for the EU’s 2028-2034 budget is set out in a resolution adopted by MEPs on 7 May 2025. MEPs call for a significantly more ambitious budget. With the US retreating from its global role, spending will have to address Russia’s war of aggression on Ukraine, a highly challenging economic and social backdrop, a competitiveness gap and the worsening climate and biodiversity crisis. The European economy is expected to be a key topic in the State of the Union address which is delivered by the President of the European Commission to the European Parliament in September each year.

Infoclip: European economy and long-term budget

The multiannual financial framework (MFF) is established for a period of seven years and lays down the maximum spending ceilings for different policy areas. Roberta METSOLA, EP President, Siegfried MUREŞAN (EPP, RO) and Carla TAVARES (S&D, PT), co-rapporteurs, hold a press conference on the next EU long-term budget (MFF) and the outcome of the vote on Parliament's priorities. This transcription is a result of an automatic process. Please check against delivery.

Press conference by Roberta METSOLA, EP President, Siegfried MUREŞAN (EPP, RO) and Carla TAVARES (S&D, PT), co-rapporteurs on the next EU long-term budget (MFF): outcome of the vote on Parliament's priorities

This infoclip illustrates the European Union long term budget (MFF) and EU funded projects in several sectors. Therefore this infoclip shows illustrative footage of some EU funded projects in areas such as agriculture, energy, transports, innovation, culture and education, defence and industry. The current multiannual financial framework (MFF) for the period 2021-2027 is over €2 trillion euros strong (€1,2 trillion boosted with the additional EU Next Generation recovery instrument and its €800 billion). This long term budget uphold the different policies and main programs of the EU.

Multiannual financial framework 2021-2027 (T)

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