Today, the College approved the Commissions proposal for the next Multiannual Financial Framework: the budget for 2028-2034. This 2 trillion budget aligns with Europes ambitions and addresses its challenges while strengthening our independence. It is designed to deliver for our citizens, businesses, partners, and future.

The next MFF is the most ambitious ever proposed, offering strategic, flexible, and transparent solutions. We are investing more in our capacity to respond and ensuring that Member States contributions remain constant while proposing a significant change in own resources.

I will highlight 5 key areas. First, investing in people, Member States, and regions. The National and Regional Partnership Plans, amounting to 865 billion EUR, will fund investments and reforms, focusing on cohesion and agriculture, which are vital for European solidarity. We will protect over 300 billion EUR for farmers and fishers income support, including a doubled agricultural reserve. For less developed regions, at least 218 billion EUR will be allocated. The plans will also target social expenditures, with a first-time goal of 14%. We are tripling our investment in migration and border management, as Europes borders are a shared responsibility. Furthermore, the Solidarity Fund will be tripled to enable quick action during disasters.

For the first time, the EU budget will support Member States in investing in EU objectives with loans of up to 150 billion EUR through a program called Catalyst Europe. These loans, backed by the EU budget, will target common European priorities such as defense, energy infrastructure, and strategic technologies.

We propose a clear allocation system within the National and Regional Partnership Plans, addressing regional disparities, poverty risks, agricultural needs, and border tensions. These plans enable a strategic allocation of resources reflecting European priorities, simplifying management for national and local authorities.

Regarding the rule of law, it remains an unconditional requirement for all EU funding. The next MFF will ensure that the National and Regional Partnership Plans make rule of law and fundamental rights conditions for investment and reform, applying smart conditionality for responsible spending and accountability.

Another significant topic for citizens, particularly the youth, is Erasmus+, which will see a 50% increase. We will also support civil society through various programs, including those focusing on the environment, media freedom, values, and democracy.

Second, enhancing Europes competitiveness. We propose a European Competitiveness Fund of nearly 410 billion EUR to support strategic technologies. This includes doubling Horizon Europe, our flagship science and innovation program, and significantly increasing investments in digital technologies, clean tech, and decarbonization.

Third, we aim to build a Union that protects. We propose 131 billion EUR for the Defence and Space window within the Competitiveness Fund, five times the current funding. Additionally, we are doubling the Connecting Europe Facility for transport and significantly increasing investments in energy infrastructure, cybersecurity, and military mobility.

Fourth, we seek a stronger Europe on the global stage with a proposed 200 billion EUR for the Global Europe Instrument, marking a 75% increase to fulfill our global responsibilities. This includes support for enlargement, a strategic investment in stability and prosperity.

Fifth, we are establishing a dedicated crisis mechanism with nearly 400 billion EUR to ensure the EU can respond swiftly to crises.

Finally, we are proposing new sources of revenue for the EU budget to finance these initiatives, aiming to stabilize national contributions and reduce the burden on national budgets while meeting our modern priorities.

In conclusion, this budget is designed for todays realities and tomorrows challenges, enabling us to act decisively in a rapidly changing world. We advocate for greater flexibility in budgetary decisions, engaging with the European Parliament, Member States, citizens, and businesses. Thank you.