Hungry for cash: where will the EU find the money?

The EU’s next long-term budget, covering 2028-2034, will be shaped by the question of where to find new “own resources” to fund priorities ahead of elections in multiple member states next year. European governments are discussing fresh revenue sources after earlier long-term budget talks in which the 27 states failed to agree on any new resources and instead relied on national contributions averaging 1.13% of gross national income each. Diplomats quoted by Euronews say convincing voters to accept EU-level taxes is the core challenge, because new levies are often seen as imposed “from above” and can become election flashpoints. Sweden, for example, is opposed to any own-resource approach, arguing wealthier members would bear a disproportionate cost. The article also outlines proposals under consideration, including the Carbon Border Adjustment Mechanism.