Brussels is changing its spending policies to potentially redirect tens of billions of euros to defence and security, as Russia’s war in Ukraine and Donald Trump’s return to the White House heap pressure on the EU to boost investment.
The policy shift would apply to about a third of the bloc’s common budget, or some €392bn from 2021 to 2027, money that is aimed at reducing economic inequality between EU countries.
Only about 5 per cent of these so-called cohesion funds has been spent to date, with the biggest beneficiaries, including Poland, Italy and Spain, spending even less.
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