I would like to set out some of the lessons we have learnt from the current budget, and the principles that should drive our new budget. First, flexibility. Let me start with the need for a more flexible, agile and responsive MFF. Today, 90% of the Budget is pre-allocated from the start. In other words, today we are working with a budget designed in the years 2019 and 2020. A different world. Under this budget, we have worked with flexibilities worth less than 4% of the MFF. This is far too small and too fragmented. Because we simply do not know what we will be facing next. Think about new technologies like AI. When the current budget was negotiated, we thought AI would only approach human reasoning around 2050. Now we expect this to happen already next year. It is simply impossible to determine today where innovation will lead us by the end of the next budgetary cycle. Our budget of tomorrow will need to respond fast. Think about natural disasters like storms, flooding and heatwaves. No one can predict where or when the next one will hit. The only thing we know is that they will be more frequent due to climate change. It is our responsibility to prepare better and help those who are affected by them. In one word, the next Budget must be less rigid. It must balance long-term investments, with the capacity to adapt to new realities in a smooth way. And it must also be able to act like an emergency strike force.

I would like to set out some of the lessons we have learnt from the current budget, and the principles that should drive our new budget. First, flexibility. Let me start with the need for a more flexible, agile and responsive MFF. Today, 90% of the Budget is pre-allocated from the start. In other words, today we are working with a budget designed in the years 2019 and 2020. A different world. Under this budget, we have worked with flexibilities worth less than 4% of the MFF. This is far too small and too fragmented. Because we simply do not know what we will be facing next. Think about new technologies like AI. When the current budget was negotiated, we thought AI would only approach human reasoning around 2050. Now we expect this to happen already next year. It is simply impossible to determine today where innovation will lead us by the end of the next budgetary cycle. Our budget of tomorrow will need to respond fast. Think about natural disasters like storms, flooding and heatwaves. No one can predict where or when the next one will hit. The only thing we know is that they will be more frequent due to climate change. It is our responsibility to prepare better and help those who are affected by them. In one word, the next Budget must be less rigid. It must balance long-term investments, with the capacity to adapt to new realities in a smooth way. And it must also be able to act like an emergency strike force.
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