For the next long-term EU budget 2021-2027, the European Commission has proposed a budget of €100 billion for research and innovation.
The proposal was made as part of the EU’s proposal for the next EU long-term budget, the multiannual financial framework (MFF).
The Commission’s budget breakdown devotes the biggest share of funding, €52.7 billion, to a series of projects to tackle climate change, boost digital technologies, improve food, handle other ‘global challenges’ and boost industrial competitiveness.
The balance of the €94.1 billion will go to fund fundamental science and innovation. The total for Horizon Europe represents about 10 per cent of government research funding across the EU.
A sum of €3.5 billion will fall under the budget line of a new programme called InvestEU, to be managed by the European Investment Bank and other banks, and steered towards investment under the broad policy heading of research and innovation.
Another sum of money, €2.4 billion, goes to the Euratom nuclear research programme.