Costa plans to present a new EU budget proposal on November 21

António Costa plans to present a new EU budget proposal for 2028-2034 on November 21, aiming to reconcile differing member state positions. This proposal will be discussed at the European Council summit on November 26-27. The need for Costa's proposal arose after criticism of the Irish presidency's budget plan, which was deemed insufficient by frugal countries and overly restrictive by cohesion-friendly nations. The goal is to reach an agreement by year-end to avoid delays into 2027, a politically challenging year due to upcoming elections in several member states. The new budget will set spending limits and priorities amid pressures for funding in various sectors.