Members of the European Parliament’s Industry, Research and Energy Committee have backed a proposal to expand and restructure the European Competitiveness Fund, which is intended to support strategic industries and strengthen Europe’s economic security between 2028 and 2034. The committee approved its position by 61 votes to 13, with 12 abstentions. The proposed fund would consolidate 14 existing European Union funding instruments into four policy windows, including dedicated support for critical raw materials, energy infrastructure, research and innovation, and industrial development. MEPs proposed increasing the fund’s budget to €264.35 billion in current prices, up from the European Commission’s proposed €234.3 billion. They also called for a €10.11 billion flexibility reserve to address unforeseen challenges and recommended a dedicated programme for defence research, development and innovation. The committee further proposed raising the InvestEU guarantee ceiling for housing, clean-technology manufacturing, energy-efficient renovations, renewable-energy communities and social investment to €150 billion, compared with the Commission’s proposed €70 billion. Parliament is expected to consider the committee’s position and negotiation mandate during its Nov. 23–26 plenary sessions. Post navigation Parliament Seeks Bigger Infrastructure Fund