The European Parliament's Committee on Budgets on 6 May 2026 debated investment priorities from the Draghi and Letta reports and their implications for the next Multiannual Financial Framework (MFF). EY experts presented a study mapping an EUR 800 billion investment gap and leverage scenarios, sparking divergences among MEPs on leverage ratios, fund architecture, and programme design.
Jean-Marc Germain (S&D) questioned high leverage ratios of 1:15, demanding proof of additionality, while EY's Laure Sansonetti defended them as sector-specific. Julien Sanchez (PfE) criticised the study for lacking critical distance from the reports, urging better spending discipline before new resources. Stine Bosse (Renew) and Mohammed Chahim (S&D) backed a stronger InvestEU with EIB priority, but Commission representative Caroline Vandierendonck defended open architecture.
On the European Competitiveness Fund (ECF), Dan Nica (S&D) and Christian Ehler (EPP) warned it is too small after deducting defence and space. Ehler stressed a strict competitiveness focus. On the Justice Programme, Monika Hohlmeier (EPP) opposed a single budget line, while Angéline Furet (PfE) attacked it as a black box. Matjaž Nemec (S&D) argued the asylum fund is a real-terms cut. On cohesion, Matthias Ecke (S&D) demanded ring-fenced envelopes, while Commission's Franck Conrad defended simpler partnership plans.
Administrative disputes arose over ETF relocation costs and Ghana delegation lease costs. Olivier Chastel (Renew) questioned fit-out financing, and Hohlmeier challenged rent increases. Consensus emerged on major investment needs, stronger parliamentary oversight, and simpler spending frameworks. Chair Johan Van Overtveldt (ECR) stressed rapid clarification on ECF competences and noted upcoming July votes. The committee approved the CoR transfer, staff plan, and Ghana lease.
Stakeholders affected include EU institutions (oversight and budget flexibility), Member States (cohesion and asylum fund allocations), EIB and InvestEU beneficiaries (leverage and access), and local authorities (simplified partnership plans).