🔊 Available on Spotify and Apple Podcast

Professor Iain Begg (European Institute, London School of Economics and Political Science) shares his views about two reports which have become key talking points in 2024 in EU circles: one written by Enrico Letta and another one authored by Mario Draghi. Though reports often fade away after they are published, the EU is bound to discuss the internal market as well as competitiveness to develop a coherent economic policy for the coming cycle.

According to Prof. Begg, a thorough analysis of the EU's finances (not just the conventional budget, but the wider 'galaxy' of off-budget mechanisms) would be justified. A fresh approach, including establishing an EU level financial framework and a sharper focus on EU public goods is needed. A new progressive reform should build on the legacy of the Juncker Plan (2014) but also the Next Generation EU (2020) which may inspire common solutions in support of our climate but also defence policies.

In 2025, the European Commission needs to present its proposals for a new Multiannual Financial Framework. Now is the time to launch wide-ranging debates –without taboos— on key elements of the EU budget: cohesion as well as agricultural policy, but also new expenditure programmes. Reforms to these major policy fields will be necessary given the broader interest in EU enlargement which, at least from a budgetary perspective, should not be as tricky as one might believe.