The European Commission is considering a huge new fund to boost Europe's economy worth up to €522 billion between 2028 and 2034, according to a document seen by Euractiv.

On Wednesday the Commission is expected to present its €1.717 trillion proposal for the next seven-year budget cycle. The €522 billion component would be split between a research programme, currently at €96 billion, and various smaller programmes not likely surpassing €50 billion.

That leaves room for a possible European Competitiveness Fund of over €300 billion, unheard of in the EU.