Ireland proposes €1.826 trillion EU budget for 2028-2034

Ireland, which currently holds the EU Council presidency, has presented a new proposal for the bloc’s long-term budget for 2028 to 2034.

It sets the budget at €1.826 trillion, about €159 billion less than the European Commission’s original proposal; both figures include expected inflation.

The proposed cuts fall especially heavily on spending for competitiveness, research, defence, and foreign and development policy.

Farming and regional support would be largely protected, even though regional funding is intended to reduce economic and social gaps and mainly benefits poorer EU countries.

Germany, the Netherlands, Sweden and Austria had called for cuts of several hundred billion euros, and an EU diplomat criticised the new proposal as inadequate.

EU countries are meant to agree on the budget by the end of the year, but a quick deal is uncertain.