The EU’s 2021-2027 long-term budget, together with NextGenerationEU, amounts to €1.8 trillion. This unprecedented response will help repair the economic and social damage caused by the coronavirus pandemic and aid the transition towards a modern, more sustainable Europe.

The package consists of the long-term budget (the 2021-2027 MFF multiannual financial framework) of €1.074 trillion, combined with the temporary recovery instrument NextGenerationEU of €750 billion.

It was adopted by the European Parliament on 16 December 2020.

MEPs negotiated major top-ups for EU flagship programmes like Health, Horizon (Research), Erasmus+ and supported also a roadmap introducing new sources of EU revenue. This roadmap is part of the ‘Interinstitutional Agreement’, a legally binding text. In addition to the contribution made as of 2021, based on how much unrecycled plastic a country has, the roadmap includes an ETS (Emissions Trading System)-based Own Resource (from 2023, possibly linked with a carbon border adjustment mechanism). It also includes a digital levy (from 2023) and a Financial Transaction Tax-based Own Resource, as well as a financial contribution that the corporate sector must make or a new common corporate tax base (from 2026).

Parliament also approved in its February 2024 session, the revision of the EU’s long-term budget.

This includes the €50 billion Ukraine Facility and the “Strategic Technologies for Europe Platform” (STEP), which aims to make the EU more strategically independent and to foster innovation. It also enables the EU budget to respond more effectively to evolving needs and unforeseen circumstances. In particular, it bolsters the EU’s budget to deal with migration and external challenges as well as the EU's crisis preparedness and budgetary flexibility. In line with Parliament’s demands, the revision introduces a mechanism to tackle escalating costs linked to the repayment of the NextGenerationEU recovery plan amid rising interest rates.

own resources (T)

Multiannual financial framework 2021-2027 (T)

9th parliamentary term

Coronavirus outbreak (T)

Recovery plan for Europe (T)

recovery and resilience facility (T)

EU Multiannual Financial Framework 2021-2027

EP Plenary session - Joint debate - Common provisions and Cohesion policy

EP Plenary session -  State of play of the implementation of the Own Resources roadmap

Infoclip: Employment - Illustrations of jobs in various sectors (car industry, food, distribution, transports and more)

EP Plenary session - Just Transition Fund

EP Plenary session - Union Anti-Fraud Programme 2021-2027

EP Plenary session - Citizens, Equality, Rights and Values Programme 2021-2027

EP Plenary session - European Globalisation Adjustment Fund (EGF) 2021-2027

EP Plenary session - The Reform of EU Own Resources

Infoclip: InvestEU – climate and energy projects

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

Voting session

Press conference on the Outcome of the MFF revision vote.

The Multiannual Financial Framework

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

Voting session: MMF for the years 2021 to 2027 and Ukraine Facility

Press conference by Jan OLBRYCHT (EPP, PL) and Margarida MARQUES (S&D, PT), co-rapporteurs on the Outcome of the MFF revision vote

Joint debate - MFF revision: MEPs debate

Joint debate - MFF revision: Closing statement by Margarida MARQUES and Jan OLBRYCHT, Rapporteurs and by Johannes HAHN, European Commissioner for Budget and Administration

Joint debate - MFF revision: opening statements by rapporteurs and Mathieu MICHEL, Belgian State Secretary and Johannes HAHN, European Commissioner for Budget and Administration

Press conference by Roberta METSOLA, EP President, Jan OLBRYCHT (EPP, PL) and by Margarida MARQUES (S&D, PT), MFF co-Rapporteurs on the Reform of the EU's long-term budget MFF: outcome of the vote on Parliament's interim report

Mid-term revision of the Multiannual Financial Framework 2021-2027: MEPs debate (part 2)

Mid-term revision of the Multiannual Financial Framework 2021-2027: MEPs debate (part 1)

Mid-term revision of the MFF 2021-2027: opening statements by Pascual NAVARRO RÍOS, Spanish Secretary of State for the European Union, Jan OLBRYCHT (EPP, PL) and by Margarida MARQUES (S&D, PT), Rapporteurs and by Johannes HAHN, European Commissioner

Press conference by Jan OLBRYCHT (EPP, PL) and Margarida MARQUES (S&D,PT), rapporteurs, on the Commission's proposals for the MFF revision

EU response to the US Inflation Reduction Act: MEPs debate

The state of play on the submitted RRF recovery plans awaiting approval: extracts from the debate

Asylum and Migration: extracts from the debate (06/07), statement by Tanja FAJON (S&D, SI), rapporteur and final vote

Press conference on the EU Commission has to cut funding to Hungary: The Legal Case by Petri SARVAMAA (EPP, FI), CONT Vice-Chair, Eider GARDIAZABAL RUBIAL (S&D, ES), Katalin CSEH (Renew Europe, HU), and Daniel FREUND (Greens/EFA, DE)

Guidelines for the application of conditionality for the protection of the Union budget: MEPs debate (continuation)

Connecting Europe: extracts from the joint debate (06/07)

Rule of law conditionality: extracts from the debate and statements by Eider GARDIAZABAL RUBIAL (S&D, ES) and Petri SARVAMAA (EPP, FI), Rapporteurs

Guidelines for the application of conditionality for the protection of the Union budget: opening statements by Eider GARDIAZABAL RUBIAL (S&D, ES), Petri SARVAMAA (EPP, FI), rapporteurs,Terry REINTKE (Greens/EFA) and by Johannes HAHN, EU Commissioner

Joint debate on Connecting Europe: opening statements by Marian-Jean MARINESCU (EPP, RO), Dominique RIQUET (Renew, FR), Henna VIRKKUNEN (EPP, FI) and Izaskun BILBAO BARANDICA (Renew, ES), rapporteurs, Adina VĂLEAN, European Commissioner for Transport

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