The proposal includes a new 451 billion European Competitiveness Fund focused on boosting Europe's defence industry, fostering innovation and supporting the transition of industry across the bloc to clean technology. The proposal allocates 131 billion euros specifically to defence and space - a fivefold increase over the current level, according to the Commission. It sets aside 302 billion euros to support farmers and a minimum of 218 billion euros for Europe’s least developed regions, as well as 200 billion euros for global programmes. "The EU is important for our prosperity, but the proposed budget is too high," Dutch Finance Minister Eelco Heinen said. "The EU Commission’s budget proposal isn’t just unfair, it’s not even fit to be negotiated," he said on X.