MEPs warn Irish EU budget plan is ‘short‑sighted’ and risks ‘historic failure’ as cuts of €141bn spare farm and cohesion funds

What happened: Ireland proposed an 8 percent cut worth €141bn to the European Commission's seven year EU budget plan for 2028 to 2034. MEPs warned the plan is short sighted and risks a historic failure. Key numbers: €141bn cut, 8 percent, €1.62 trillion spending plan, €38bn cut from Global Europe, €75bn from the competitiveness fund, €10bn from Why it matters: Farm subsidies and cohesion funds were exempted after lobbying by seventeen EU countries, setting up a showdown between MEPs and governments. Ireland's minister said the plan aims to bridge differences between Member States.

Ireland proposed an 8 percent cut worth €141bn to the European Commission's seven year EU budget plan for 2028 to 2034. MEPs warned the plan is short sighted and risks a historic failure.

Farm subsidies and cohesion funds were exempted after lobbying by seventeen EU countries, setting up a showdown between MEPs and governments. Ireland's minister said the plan aims to bridge differences between Member States.