On Wednesday, the German government rejected a two-trillion-euro long-term budget proposed by the European Commission, calling it excessively large.
“A comprehensive increase in the EU budget is not acceptable at a time when all member states are making considerable efforts to consolidate their national budgets,” Government Spokesman Stefan Kornelius said in a statement. “We will therefore be unable to accept the Commission’s proposal.”
“Nor do we support the additional taxation of companies proposed by the European Commission,” Kornelius added.
One of the new ways of raising money proposed by the EU executive is a tax on large companies in Europe with an annual net turnover of more than 100 million euros.
The budget proposal for 2028-34, unveiled on Wednesday, focuses primarily on tackling overseas competition and countering Russia. The plan also earmarks up to 100 billion euros for the reconstruction of war-torn Ukraine and foresees an overhaul of the massive farming subsidies known as the common agricultural policy.
