PortugalPolitics

Portugal has red lines in its own resources to finance the European budget

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Briefings

Portuguese officials stated Portugal has 'red lines' regarding its own revenue to fund the EU budget, while also favoring debt extension for Next Generation EU and defense projects. The Finance Secretary Ines Domingos emphasized that no member state is comfortable with all proposed own resources, and Portugal considers some proposals less suitable than others. The government remains open to negotiating all own resources proposals, though specific details are not yet on the table. Portugal opposes a new tobacco tax and is cautious about crypto asset taxes and CBAM contributions, viewing them as dependent on detailed negotiations.

Key points

• Portuguese Finance Secretary Ines Domingos stated Portugal has 'red lines' regarding its own revenue to fund the EU budget, meaning it cannot take revenue from the Portuguese budget to pass to the EU budget.
• Ines Domingos revealed Portugal favors extending the grace period for debt incurred for Next Generation EU and issuing new debt for common goods and defense projects.

Context

The statement was made during a conference on the next five-year financial framework (2028-2034) and own resources at the European Parliament, where the Portuguese government is negotiating its contribution to the EU budget.

Limitations

Specific details of proposed own resources are not yet on the table, and Portugal opposes a new tobacco tax and is cautious about crypto asset taxes and CBAM contributions, viewing them as dependent on detailed negotiations.

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