Costa to put forward new EU budget proposal within weeks

European Council President António Costa is expected to put forward a new negotiating proposal for the EU’s 2028–34 budget within weeks, after leaders discussed the long-term spending plan at a summit on Thursday, according to a senior EU source. The bloc is aiming to reach an agreement by the end of this year.[1]

The main disputes remain the size of national contributions, possible new EU taxes and how much flexibility the budget should have to respond to crises. Leaders spent four hours discussing the plan, but it was unclear whether they had moved closer to agreement. A planned press conference was cancelled.

The proposal is expected to include ideas for new EU taxes put forward by the European Parliament, including levies on cryptocurrency and online gambling. Parliament had objected to their exclusion from a proposal presented by Ireland, which holds the rotating presidency of the Council of the EU.

The Irish proposal put the budget at €1.62 trillion. At least six countries, including the Netherlands, consider that figure too high, while a group of 17 countries believes too much has been cut from the budget. An additional EU summit focused solely on the long-term budget is scheduled for late November.