The European Commission on Wednesday proposed a 2 trillion euro ($2.31 trillion) EU budget for 2028 to 2034, with a new emphasis on economic competitiveness and defence and plans to overhaul traditional spending on farming and regional development.

The European Union's financial capabilities depend on this bill, which was presented to members of the European Parliament on Wednesday. It sets the amount of available resources for seven years, distributes them among the 27 member states and allocates funds to the various EU-wide policies.

Prepared for months and largely kept secret from von der Leyen’s team of commissioners, the draft 2028-2034 budget plan prompted rare internal pushback that forced significant concessions in the hours before publication.