12 Oct 2026
Irish Presidency publishes its Proposal for the EU’s Long-term Budget
On 10 October 2026, the Irish Presidency circulated its revised negotiating box for the next Multiannual Financial Framework (MFF), covering 2028–2034. The proposal sets the overall budget at €1.62 trillion, representing a 30% increase over the current MFF. To achieve a more balanced position on the overall budget, the Presidency proposes savings of €141 billion, or 8%, compared with the European Commission’s proposal.
For Horizon Europe, the proposal provides for:
€158.187 billion in current prices, compared with €175 billion in the Commission’s proposal and €167.88 billion in the negotiating box presented under the Cypriot Presidency of the Council of the EU.
€140 billion in 2025 prices, compared with €154.882 billion in the Commission’s proposal and €148.579 billion in the Cypriot Presidency’s negotiating box.
The proposed €140 billion allocation, expressed in 2025 prices, is distributed across Horizon Europe’s four components as follows:
- Excellent Science: €35.263 billion
- Competitiveness and Society: €60.700 billion
- Innovation: €31.028 billion
- European Research Area: €13.009 billion, including €4.310 billion for widening participation
The proposal will be discussed at the General Affairs Council on Tuesday and at the European Council meeting on 15–16 October.
The ITRE Committee’s rapporteurs for the Horizon Europe Regulation and the Specific Programme, MEPs Christian Ehler (DE/EPP) and René Repasi (DE/S&D) reacted in a joint statement. The rapporteurs condemn the additional cuts to Horizon Europe proposed in the Irish Council Presidency’s negotiating box as 'unacceptable'. They argue that these cuts send a signal that Europe is no longer serious about maintaining its scientific and technological leadership, at a time when leadership in AI, quantum technologies and photonics is critical to geopolitical power, competitiveness and resilience. They further warn that the proposed €8 billion reduction could cost Europe up to €88 billion in economic output.
For more information: