Serafin: Negotiations on Draft 2028-34 Budget Won't Be Easy

Bratislava, 2 December (TASR) - Negotiations on the EU's draft long-term budget for 2028–34 will not be easy, because the EU must adapt the budget to new situations, such as loss of competitiveness compared to the USA and China, said European Commissioner for Budget Piotr Serafin during his visit to Slovakia on Tuesday, adding that several member states are also proposing cuts in the budget, though it's not yet clear which areas would be affected. "We all realise that the EU is losing the competitive race against the USA and China. The EU budget will not solve all these problems, but it must contribute more to investing in future technologies," said Serafin, adding that security and defence are another priority of the budget. He also pointed to a decline in investments in countries neighbouring Russia, which is another reason for the need to invest in the EU's defence industry. Furthermore, he believes that such expenditure would drive innovation in Europe and have a favourable impact on employment. The funds allocated to defence will thus support competitiveness and economic prosperity, according to Serafin. He also highlighted the importance of own sources of funding, adding that several EU member states are currently undergoing fiscal consolidation. For this reason, it's probably not possible to expect them to be ready to increase their contribution to the EU budget. In this connection, there's a potential in finding new avenues for financing the European budget, such as imposing tariffs on cheap goods imported mainly from China. Commenting on his meeting with Slovak Prime Minister Robert Fico (Smer-SD) on Tuesday, Serafin said he wasn't surprised to learn that cohesion policy and the Common Agricultural Policy are a priority for Slovakia. "They will be part of the next EU budget. Slovakia will be able to use cohesion policy to support its economic development until 2034, which is good news, in my opinion," concluded Serafin. jrg