The European Union budget is only just over 1% of EU GDP.

Omissions

• The ~1% figure covers the regular EU budget (MFF). If the temporary NextGenerationEU recovery instrument (up to €806.9 billion, financed by common borrowing) is added, total EU-level spending commitments reach roughly 1.4-1.5% of EU GNI — a context the speaker does not mention.
• The precise ratios vary slightly by measure: the European Commission cites 'around 1% of EU GDP', the OECD cites 'about 1% of EU GDP or 0.89% of EU GNI', and the EPRS cites 1.02% of EU GNI for the 2021-2027 MFF in 2025 prices. All of these are consistent with 'just over 1%' within normal rounding.
• Comparisons of the EU budget with national budgets (typically 40-50% of GDP) are the implicit benchmark in the speaker's argument; the figure itself is the standard, non-controversial one used by the Commission.

Sources

• PrimaryEuropean Commission — Europe's budgetThe current long-term budget runs from 2021 to 2027. It amounts to €1.2 trillion, around 1% of the EU's gross domestic product (GDP).
• PrimaryOECD Economic Surveys: European Union and Euro Area 2025 — Repurposing the EU budget for new challengesThe EU's annual budget is small, at about 1% of EU GDP or 0.89% of EU Gross National Income
• PrimaryEUR-Lex — 2025 European Union budget (summary)The budget is set at €199.4 billion in spending commitments and €155.2 billion in payment credits.
• SecondaryEuropean Parliamentary Research Service (Epthinktank) — EU budget 2028-2034: overview of the Commission's proposalThe 2021-2027 MFF is allocated €1.2 trillion (in 2025 prices) corresponding currently to 1.02 % of the EU's gross national income (GNI).