Story perspectives

EU leaders start 2028–2034 budget talks with €141B cuts

By Drooid · Oct 16, 2026, 2:16 PM UTC · How we work

Summary

Story summary

EU leaders in Belgium started negotiations on the 2028-2034 budget.
Ireland’s EU Council president proposed cutting the €1.7 trillion by €141 billion.
Germany, Netherlands, Finland, Denmark, Sweden and Austria urged cuts of billions euros, shifting CAP and cohesion to defence and migration.
Italy, Spain, Poland and other eastern states, led by PM Giorgia Meloni and President Nicusor Dan, demanded Common Agricultural Policy (CAP) safeguards.
Council President António Costa will finalise the budget after the summit.

History

Historical Context

In 2009, the European Union adopted the 2014-2020 Multi-annual Financial Framework, allocating €1.1 trillion and reshaping fiscal priorities after the financial crisis. The European Commission projected a 30 % reduction in the Common Agricultural Policy, while Germany and France each pledged €50 billion toward cohesion and research. Similarly, today’s 2028-2034 budget talks see Germany, the Netherlands and Scandinavia urging cuts and defence reallocations, while Italy, Spain and Poland, led by Giorgia Meloni and Nicusor Dan, demand CAP safeguards. The 2009 precedent demonstrated that budget compromises can trigger enduring shifts toward security spending, foreshadowing a rebalanced EU fiscal architecture in the upcoming MFF.

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Story summary

EU leaders in Belgium started negotiations on the 2028-2034 budget.
Ireland’s EU Council president proposed cutting the €1.7 trillion by €141 billion.
Germany, Netherlands, Finland, Denmark, Sweden and Austria urged cuts of billions euros, shifting CAP and cohesion to defence and migration.
Italy, Spain, Poland and other eastern states, led by PM Giorgia Meloni and President Nicusor Dan, demanded Common Agricultural Policy (CAP) safeguards.
Council President António Costa will finalise the budget after the summit.

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