The Irish Presidency of the EU Council expects an agreement between European leaders by Christmas on the multiannual budget from 2028 to 2034, with proposals for new revenue of EUR 55 billion.
© Reuters
10/10/2026
by
Lusa
A irish presidency of the Council of the European Union (EU) said it expected an agreement between European leaders until Christmas on the multiannual budget from 2028 to 2034, proposing new revenue of EUR 55 billion.
“ I hope that it will be possible to reach an agreement by Christmas, for the reasons we have been putting forward for a long time. If we want European citizens and the European economy to benefit from this Multiannual Financial Framework [MFF] from 1 January 2028, we must reach agreement before Christmas,” said Irish Minister for European Affairs Thomas Byrne at a press conference in Brussels.
The revised proposal, which includes new sources of revenue to finance the Community budget, comes before next week's European Council meeting, which will focus, among other issues, on the next MFF, which will set the EU's priorities and expenditure limits between 2028 and 2034.
“ Throughout the summer and the last few weeks, we have met together to assess how far we could reach and this proposal will now serve as a basis for the continuation of negotiations, with the aim of the leaders reaching a definitive agreement by the end of the year. No Member State will be able to get everything it wanted in such a proposal, but we believe that there is something in it that meets the interests of each country, as well as something that benefits all European citizens,” Thomas Byrne said.
With regard to the new European own revenue, “we have kept the Commission’s proposals and changed some of them to reflect what the Member States have conveyed to us,” the Irish Minister explained, speaking of a “very ambitious package”, capable of generating EUR 55 billion a year.
New revenue linked to the carbon market, the border carbon adjustment mechanism, waste electrical and electronic equipment not collected, excise duties on tobacco and a contribution from large companies operating in the single market are concerned.
“ This package will enable leaders to fully discuss the issue of new own resources, since, I believe, almost everyone recognises that they are needed,” the ruler said.
The Irish presidency set three criteria for new own resources, such as obtaining support from all countries, enabling revenue to be generated and ready to enter into force on 1 January 2028.
For this reason, only the proposals of the Community executive and not those of MEPs (such as contributions on digital services, bets or a contribution on crypto-values) were received, since, according to Thomas Byrne, “it was not clear” that they met the requirements.
The Irish presidency of the EU Council today proposed 8% cuts in the Community's proposal for a multiannual budget for 2028 to 2034, for a total of €1.62 billion, without affecting cohesion and agriculture.