The bloc’s executive, the European Commission, unveiled a seven-year spending package from 2021-2027 made up of budget commitments totaling 1.135 trillion euros ($1.36 trillion), equivalent to around 1.1 percent of the total output of the 27 member states that will remain after Britain leaves. European Commission President Jean-Claude Juncker said the commission has “put forward a pragmatic plan for how to do more with less.”

“The economic wind in our sails gives us some breathing space, but doesn’t shelter us from having to make savings in some areas,” he said. Spending on big-ticket items like agricultural and so-called “cohesion funds” that help bring the infrastructure of poorer members up to standard are both to be cut by around 5 percent, with the commission saying these policies would be “modernized” so they can deliver more with less. Concerned by government moves in Poland and Hungary that the commission says are undermining their justice systems, the body is also seeking powers to suspend or restrict funding to countries whose rule of law standards might pose financial risks. Mr Fleming continued: "The European Commission has led lots of groundwork already they said they want a bigger budget overall and they want to focus on new challenges which could mean less money for French farmers and the Common Agricultural Policy. "The European Commission's proposal would markedly increase Germany's contribution to the budget… We are prepared to bear greater responsibility in order to strengthen the European Union — however, this also means that all member states must bear their fair share of the burden," German foreign and finance ministers, Heiko Mass and Olaf Scholz, said in a joint published statement. The budget envisages 187.37 billion euros for single market, innovation and digital issues, 442.412 billion euros for cohesion and values, 378.92 billion euros for natural resources and environment, 34.902 billion euros for migration and border management, 27.515 billion euros for security and defense, 123.002 billion euros for neighborhood and the world policy as well as 85.287 billion euros for European Public Administration.
The European Commissioner for Budget and Human Resources Günther Oettinger formally unveils proposed budget rules for the European Union to run from 2021 to 2027.