Article · Geopolitics · Money and markets · Lithuania
Ireland wants to cut €141 billion from the EU budget. Defence loses 13 percent, farmers and cohesion 3
On 10 October 2026 Ireland, which holds the EU Council presidency, put forward a compromise for the 2028-2034 EU budget: €1,622 billion in 2025 prices, 8 percent or €141 billion less than the Commission proposed. Competitiveness, research and defence lose 13 percent, cohesion, agriculture and fisheries 3 percent. Germany, the Netherlands and Sweden say the cut is too small, the main European Parliament groups say it is too big. If there is no deal by December, the talks pass to Lithuania's presidency in January 2027.
Ireland has proposed cutting €141 billion from the EU's 2028-2034 budget. Cohesion and agriculture lose 3 percent, competitiveness, research and defence 13 percent.
This is the EU's long-term budget, the multiannual financial framework. It pays for cohesion funds that build roads, hospitals and schools, direct payments to farmers, Horizon research grants and the EU's new defence-industry line. So it matters what gets cut from it and who pays for it.