The European Commission’s initial proposal for the next budget period 2021-2027 includes a 30% increase for research and innovation, despite budgetary challenges posed by Brexit. This will fund the new “Horizon Europe” R&D funding programme, which will follow on from the current “Horizon 2020”. The Commission also proposes new revenue sources for the EU, proposing “own resource” taxes including a % of the EU Emissions Trading System revenues, a contribution from consolidated corporation taxes and a levy on non-recycled plastic waste. The EU budget now enters political discussion between Member States and the European Parliament.
European Commission press release 2 May 2018 https://ec.europa.eu/programmes/horizon2020/en/news/commission-proposes-biggest-ever-investment-ri-programme-europe