Future of Europe

Future of Europe: Funding bigger budgets in an era of belt tightening

As part of the Business Post’s Future of Europe series, we examine proposals to increase the EU’s budget even as national budgets face reinstated fiscal rules

The EU is at a critical juncture with a range of issues from the economy to immigration and climate change looming large. Picture: Sergio Mendoza Hochmann via Getty Images/Business Post

The EU and its member states need more money.

Based on demographic changes, EU enlargement, a deteriorating geopolitical environment and climate change, public spending is going to have to increase substantially on healthcare, pensions, defence, the energy transition and climate adaptation in the years ahead.

Not to mention public debt repayments following major interventions on Covid and inflation, and of course unforeseen challenges that may emerge, which we should expect, based on the experience of ...