EU leaders seek further compromise on 2028–2034 budget

EU leaders did not agree on the 2028–2034 long-term budget on October 15 after discussing an Irish proposal to cut the draft by 141 billion euros. European Council President António Costa will take the negotiations forward.

EUobserver reported that participants objected to the proposal for different reasons. Germany, Austria, Denmark, Finland, the Netherlands and Sweden want larger spending reductions, particularly in agriculture and cohesion funding. Another 17 countries, grouped as friends of cohesion policy, oppose such savings.

Denmark's priorities include more funding for defence, border protection, measures against irregular migration and competitiveness. German Chancellor Friedrich Merz said the unanimity needed among member states remained a long way off.

In its official summit account, the European Council confirmed that Costa had been asked to continue negotiations. Leaders said an agreement by the end of 2026 would allow the necessary legislation to be adopted in 2027 and ensure uninterrupted funding for beneficiaries from January 2028.