Ireland proposes cutting EU budget by 141 billion euros to appease frugals

Ireland has proposed cutting the next long term European Union budget by 141 billion euros in an effort to win over a group of frugal countries led by Germany, Euronews reported on 10 October 2026. Ireland currently holds the rotating presidency of the European Union. The proposal reduces the overall budget by eight percent. [1]

Under the proposal outlined by Euronews, global cooperation and competitiveness would face the deepest spending cuts. Funding for agriculture and cohesion would see smaller reductions of three percent. The proposed plan also features a revenue package of 55 billion euros a year in own resources. [1]

The island of Ireland is located in Northwestern Europe in the North Atlantic Ocean. The Republic of Ireland transitioned during the mid 20th century from agrarian poverty into one of the wealthiest states in Europe by attracting foreign direct investment. [2][3]

As FTMQ News reported earlier, the Irish government previously finalised its own domestic Budget 2027 package. That national plan introduced 8.5 billion euros in additional spending alongside income tax cuts and social welfare adjustments. [4][5]

European Union leaders are scheduled to discuss the budget proposal during meetings on 15 and 16 October, Euronews reported. The negotiating proposal will anchor the budget talks among leaders next week. [1]