In June 2018, the European Commission issued its proposal for Horizon Europe, the next Framework Programme for Research and Innovation. Science Europe issued this reaction to the proposal to support policy discussions during the upcoming legislative process. Science Europe welcomes the overall continuity between the internal structure and funding rates between Horizon 2020 and Horizon Europe. However, the proposed budget increase for the period 2021-2027 does not live up to the ambitious scenarios defended by the European Commission in front of the Heads of States and Governments in March 2018 and will not be sufficient for Europe to meet its ambitious political goals.