, currently holding the presidency, has proposed a 141 billion euro reduction to the EU budget for 2028-2034. This 8% cut sets the total at 1.622 trillion euros, significantly lower than the 's 1.763 trillion plan.
The proposal impacts funding for competitiveness, security, agriculture, and borders. Leaders from , the Netherlands, Austria, Sweden, Denmark, and Finland requested these restraints in a September letter, while and Italy seek more ambition.
Negotiations will intensify during an extraordinary European Council meeting in November 2026. A final decision is expected at the scheduled summit on 17 and 18 December, as member states remain divided over the future of foreign policy and cohesion funds.