Commissioner Piotr Serafin, in a written answer to a parliamentary question from MEP Jean-Paul Garraud (PfE), defended the European Commission's proposed package of new own resources as adequate to cover the EU's debt repayment obligations under the NextGenerationEU plan. The answer, published on 28 April 2026, responds to concerns about the reliability of revenue streams and the lack of contingency planning.
The question, submitted on 24 March 2026, asked the Commission to provide annual revenue projections for each new own resource from 2028 to 2034 and to outline contingency plans if revenue falls short or interest rates rise. Serafin's answer states that the five new own resources and adjustments to current ones are expected to generate EUR 65.6 billion per year on average over the 2028-2034 period, citing the Commission's staff working document and factsheet. He emphasised that, under the principle of universality, total revenue covers total expenditure, so no revenue is earmarked specifically for debt repayment.
Policy orientation and ambition
The answer signals a firm commitment to the proposed own resources package, which includes revenues from the Emissions Trading System, the Carbon Border Adjustment Mechanism, the reallocated profits of multinationals (Pillar One), a financial transaction tax, and a statistical own resource based on gross operating surplus. The Commission's projections rely on assumptions about carbon prices, economic growth, and rule changes, which Garraud had flagged as uncertain. Serafin did not provide the requested annual breakdown per resource, instead directing to existing documents.
Institutional follow-up
The answer is part of the ongoing negotiations on the Multiannual Financial Framework 2028-2034. The Council must unanimously adopt the own resources decision, and the European Parliament must give its consent. The first debt repayments under NextGenerationEU begin in 2028, leaving limited time for the new resources to be approved and implemented. The Commission has not presented a contingency plan for revenue shortfalls, which may become a point of contention in upcoming budget talks.