The European Commission has proposed a framework worth almost €2 trillion for 2028‑34, designed to finance agriculture, regional development, defense and competitiveness. Germany, the Netherlands and other fiscally conservative net contributors want to curb spending and reject new common debt, while Poland, Spain, Italy and Greece argue for protecting farm subsidies and cohesion funding for poorer regions. The Commission has proposed five new “own resources”, drawing on carbon pricing, the carbon border adjustment mechanism, non‑collected e‑waste, tobacco duties and contributions from large companies, on top of existing revenue sources. The plans face resistance because the budget and revenue system must be approved unanimously by all 27 governments, and the European Parliament must also give its consent. EU leaders have asked Ireland, which will assume the rotating Council presidency in July, to develop compromise options by October.