EU Budget: Ireland proposes 140 billion euro cuts to unblock negotiations

Ireland, holding the rotating EU presidency, proposed cutting approximately 140 billion euros from the EU’s multiannual budget for 2028-2034 to reconcile Germany and France over the budget. The proposal includes an 8% reduction by cutting spending on development aid, administrative costs, and competitiveness, while maintaining funding for agriculture and social cohesion. Ireland also suggests adding 55 billion euros in own resources through taxes on large corporations and environmental taxes to help reach an agreement at the upcoming EU summit in Brussels.