EU leaders meet in Brussels amid deep divisions over 2028-2034 budget

Mixed · 2EU leaders were due to meet in Brussels on Thursday 15 October 2026 for what was described as their biggest clash yet over the bloc's next long-term budget, covering 2028-2034 and worth nearly €2 trillion. 1 2 Mixed · 2The 27-nation bloc wants an agreement by Christmas, fearing that future dealmaking could be derailed by eurosceptic election wins, most importantly in France, where the presidential election is next year; elections are also looming in Italy, Poland, Greece and Finland. 1 2 Mixed · 2Marine Le Pen, the far-right frontrunner in the French vote, wants to cut France's contribution to the EU budget, and on the eve of the summit called it a "democratic scandal" for leaders to adopt a budget before next year's votes; a European diplomat said "she'll be in the room tomorrow". 1 2

Mixed · 2The budget will set priorities from agriculture and defence to competitiveness and migration, and leaders must decide how much to give farmers, what to spend on defence, how to compete with the United States and China, and whether to fund migrant "return hubs" in Africa. 1 2 Mixed · 2Ireland, which holds the rotating EU presidency, tabled the latest proposal, which cuts about €140 billion from the budget total. 1 2 Mixed · 2Three camps oppose it: Germany leads the "frugals", including the Netherlands and Sweden, who want cuts of several hundred billion euros; France opposes massive cuts and wants a larger budget; and the "Friends of Cohesion" want more money for agriculture and regional development. 1 2

Mixed · 2A French official warned there can be no agreement without "substantial" new EU-wide taxes, including on large companies, the environment and tobacco; Paris also wants levies on digital services, crypto-assets and online gambling, which the European Parliament also demands. 1 2 Mixed · 2Confidence in a year-end deal appears to be fading: Wednesday's draft conclusions refer only to a "timely agreement" instead of agreement "by the end of the year" as an earlier version did. Ireland's Europe minister Thomas Byrne said on Tuesday a December deal was possible "if compromise can be found". 1 2 Mixed · 2If there is no deal before French voters go to the polls in April and May, talks would restart in the summer, which a second EU diplomat called "an awful exercise". European Council President Antonio Costa will lead the negotiations, and an extraordinary meeting has been added in late November. 1 2