Government suggests slashing EU budget by €140bn
The Irish government has proposed a €141 billion cut to the EU's seven-year budget as a compromise between member states. The proposal faces criticism from wealthier nations who argue the cuts do not go far enough.
Why it matters
Budget negotiations impact the funding of major EU policies, including agriculture and regional development.
The Government has proposed a €141 billion cut in the EU seven-year budget compared to the European Commission's initial proposal.
Outlining the Irish presidency’s draft budget this morning, Minister for European Affairs Thomas Byrne described the proposal as a compromise that recognised the competing positions of the member states.
However, the 8% cut in the initial proposal falls well short of the call by the EU’s richest countries for cuts in the order of several hundred billion euro.
The European Commission’s initial proposal was €1.7 trillion over the 2028-2034 period.
It was further decreased by the Danish and Cyprus presidencies.
During intensive discussions with national capitals since the presidency was launched on 1 July, the Irish Government was tasked with reconciling the conflicting demands for a smaller EU budget and also calls for traditional EU policies such as Common Agricultural Policy (CAP) and cohesion funding to be preserved.
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