On the 21st July 2020, EU leaders agreed on the next long-term budget for the 2021-2027 period, worth a total of €1,074.3 billion. They also agreed on the €750 billion recovery effort to help the EU tackle the crisis caused by the COVID-19 pandemic. This is still subject to finalisation with the European Parliament.
With respect to the budget agreed, the next Framework Programme for Research and Innovation, Horizon Europe, was allocated €85.5 billion in current prices, with an additional €5 billion being allocated to Horizon Europe from the Next Generation EU recovery fund. It is expected that the division of funding within Horizon Europe will be agreed by Member States at Competitiveness Council (Research) today 29 September 2020. The Horizon 2020 allocation is €77 billion in current prices.
Regarding the European Research Council (ERC), the current proposed figures allocate an amount of €14.86 billion to the ERC. This represents an increase in comparison to the €13.095 billion allocated to the ERC in Horizon 2020 (amounts referenced are current prices). In addition it must also be recognised that both the long-term budget and Horizon Europe budget is prepared on the basis of 27 Member States, rather than 28. The proposed Horizon Europe budget does not include the contributions which will be made by non-Member State countries which wish to associate with and participate in the new Framework Programme.