European Council President António Costa met with Austrian Chancellor Christian Stocker in Vienna on September 15, 2026, to discuss the 2028-2034 Multiannual Financial Framework. The Irish Presidency aims to present a new budget proposal by this October.
The European Commission proposed a 2 trillion euro budget, set at 1.27 percent of economic output. This plan reduces programs from 52 to 16 and includes a 865 billion euro European Fund, alongside 300 billion for agriculture and 218 billion for regions.
Austria and other net payers seek deeper cuts than the 2 percent reduction previously suggested by Cyprus. While Costa explores new own resources like a digital tax, Austria demands significant savings, specifically targeting the EU's administrative costs.