Agreement reached for next year's EU budget in negotiations led by Simon Harris
The EU Council and Parliament have reached an agreement on the 2027 annual budget, totaling over €200 billion. Negotiations were led by Tánaiste Simon Harris, aiming to balance crisis response with fiscal responsibility.
Why it matters
The budget determines the EU's capacity to fund defense, technology, and regional cohesion, while highlighting ongoing internal disagreements over future spending frameworks.
AN AGREEMENT HAS been reached between the Council of the European Union and the EU Parliament on the bloc’s annual budget for 2027.
It’s the seventh and final annual budget of the current multiannual financial framework (MFF). It amounts to €199.7 billion in total commitments and €211.5 billion in total payments.
Tánaiste Simon Harris served as the chief Council negotiator.
Both the council and the parliament must formally approve the budget agreement within 14 days so that it can be adopted.
The EU Council said that the agreement safeguards the EU’s ability to cope with “ongoing crises and challenges”, such as those in Ukraine and the Middle East. It will also allow for the EU to deal with “unforeseen circumstances”.
Just over €700 million has been kept available under the MFF expenditure ceilings.
Harris said the budget for 2027 must “strike the right balance”.
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