The European Commission (EC) has presented its proposal for the next Multiannual Financial Framework, the EU budget for the period of 2021 to 2027. Overall, the Commission proposes a long-term budget of €1.135 billion in commitments (expressed in 2018 prices) over the period from 2021 to 2027, equivalent to 1.11% of the EU27's gross national income (GNI). This level of commitments translates into €1.105 billion (or 1.08% of GNI) in payments (in 2018 prices). This includes the integration into the EU budget of the European Development Fund. Taking into account inflation, this is comparable to the size of the current 2014-2020 budget (including the European Development Fund).

With regard to research, the EC is proposing a budget of € 97.9 billion for the next EU Framework Programme for Research and Innovation "Horizon Europe". In addition, the EC states that funding for the field of R&D will also come from the following areas: 

• InvestEU, a EU guarantee that should mobilise public and private financing in the form of loans, guarantees, equity or other market-based instruments, to strategic investments in the support of R&D through a dedicated investment window. With a contribution from the EU budget of €15.2 billion, the EC expects InvestEU to mobilise more than €650 billion of additional investment across Europe.
• EU Cohesion Policy will contribute to R&D through an increased focus on innovation and Smart Specialisation strategies, and by continuing the "Seal of Excellence". 
• A new European Defence Fund, with an overal budget of €13 billion, will offer EU funded grants for collaborative projects which address emerging and future defence and security threats and bridge technological gaps.
• ITER, the International Thermonuclear Experimental Reactor, has a € 6 billion budget allocated to it, according to the EC proposal.
• The Euratom Research and Training Programme funds research and training on the safety of nuclear energy production.
• A new Digital Europe Programme, with €9.2 billion aims to bring the benefits of the digital transformation to all European citizens and businesses. The programme will boost frontline investments in high-performance computing and data, artificial intelligence, cybersecurity and advanced digital skills. It will promote large-scale deployment of digital technologies across economic sectors and it will support the digital transformation of public services and businesses.

The European Commission is making ambitious yet realistic proposals for a modern EU budget. It is time for an EU budget that reflects rapid developments in innovation, the economy, the environment and geopolitics, amongst others. The Commission is putting forward modern, clearer and simpler EU financial rules that ensure the EU budget delivers on the issues that matter to Europeans.

More info HERE.