Ireland proposes cutting the European Union budget by 8% for 2028-2034

The Irish presidency of the Council of the European Union has proposed an 8% reduction in the bloc's budget for the 2028-2034 period. The proposal was introduced on Saturday in Brussels as part of the ongoing negotiations for the upcoming multi-year financial framework.

The reduction is expected to impact key policy areas, specifically targeting competitiveness and security initiatives. This proposal marks a significant development in the budgetary discussions for the European Union's future funding cycle.