On Saturday, 10 October 2026, the Irish Presidency of the Council of the EU circulated its revised Negotiating Box for the next long-term budget, the Multiannual Financial Framework (MFF) for 2028-2034.
A Decisive Moment
After three months of in-depth engagements on the 2028-2034 Multiannual Financial Framework (MFF), the Irish Presidency today presents its revised compromise proposal – Negotiating Box – on the future EU budget.
The objective of the revision is to present an ambitious, modern and flexible budget that invests in new and emerging priorities and protects treaty-based policies, including CAP and Cohesion, while at the same time reflecting the fiscal realities that all Member States face.
At the core of the next MFF is a bold focus on competitiveness, research, innovation, security and defence, with a level of ambition for these priorities that is unprecedented in any long-term budget. It also responds to the calls from a majority of Member States to protect Cohesion and CAP as essential, treaty-based EU policies. These are valued, impactful, and proven policies that support our regions, our rural communities, and our farmers.
The revision seeks to bridge the differences between Member States on long-term spending priorities, providing the basis for the next stage of discussions. It forms the basis of a compromise on fundamental questions of volume, where the EU should prioritise its funds and how it will generate its revenue.
A decisive moment, the publication today is a pivotal step in advancing negotiations to allow for a timely agreement for the benefit of citizens, communities and beneficiaries.
Speaking on the publication, the Taoiseach, Micheál Martin commented: ‘Negotiations on the future EU budget have been a top priority for our Presidency. It has been the focus of significant engagements since we assumed our Presidency and has allowed us to hear and understand deeply the priorities and concerns of all Member States. I am confident that the proposal we put forward today is one which will act as a catalyst to move negotiations forward, and ensure that we have a timely agreement.’
Reflecting on the proposal presented by the Irish Presidency, the Tánaiste and Minister for Finance, Simon Harris, remarked: ‘In advance of assuming our Presidency, Ireland was tasked to advance work on new Own Resources. We committed to delivering and we have done that today. The package we have proposed will be an essential element of further discussions amongst leaders as an important resource to stabilise Member States contributions, while meeting the many expectations of the EU budget’.
Minister for Foreign Affairs and Trade, Helen McEntee, said: ‘We are confident that the revised Negotiating Box provides a delicate balance between competing voices. We must now move away from our opening positions and towards the final stages of negotiations. While conscious that these proposals may not meet all the concerns and views of all Member States, we urge all to approach these discussions flexibly and pragmatically. Compromise is essential if agreement is to be reached."
Minister of State for European Affairs and Defence, Thomas Byrne, as chair of the General Affairs Council where the MFF and the European Council are prepared, said: ‘The Irish Presidency’s Negotiating Box is intended to bridge the many differences between Member States. It brings us closer to resolving the critical questions our Union faces on how to balance both new priorities and core policies, whilst also reflecting the fiscal realities that all Member States face. The Irish Presidency has sought to answer this question and provide Member States with the framework in which political negotiations can continue, reaching a final agreement on the next MFF before the end of 2026.’
Volume & Expenditure
Overall Volume
The Irish Presidency proposal reflects an ambitious budget of €1.62 trillion, a 30% increase from the current MFF. This budget amounts to 1.16% in EU GNI (or 1.05%, excluding repayment of Next Generation EU common debt). Given the need for a more balanced position on volume, the Irish Presidency has also outlined overall savings of 8% (€141 billion) on the European Commission’s proposal.
Savings have been found across all Headings, while also maintaining key priorities, thus ensuring that nearly all programmes see significant increases when compared with the current MFF.
- Heading 1: Economic, Social, and Territorial Cohesion, Agriculture, Fisheries and Rural Communities
- Heading 2: Competitiveness, Prosperity and Security
- Heading 3: Global Europe
- Heading 4: Administration
Revenue
Advancing work on the new Own Resources package has been a central focus for the Irish Presidency. Member States remain divided on these options. The package proposed today is ambitious, can be implemented by 2028 and raise substantial volume in the order of €55 billion per year, but remains subject to continued negotiations.
Securing Agreement
In the coming week, Member States will have the opportunity to reflect on the Irish Presidency’s revised Negotiating Box, and this will culminate with a discussion amongst leaders at the October European Council meeting. President Antonio Costa has called for efforts to continue to reach agreement by the end of 2026.