EU leaders set to clash over bloc’s next seven-year budget

(Reuters)

BRUSSELS, June 19 (Reuters) – European Union leaders headed for a clash over the bloc’s budget ​on Friday after both net contributors and beneficiaries criticised an initial proposal on what the EU should pay for from 2028 to 2034 – ‌and where the money should come from.

The EU budget is how the 27-member bloc finances all of its policies – from supporting farmers and developing new technology to student exchange programmes and equalising standards of living across member states.

According to the European Commission’s proposal, the 2028-2034 budget should be €2 trillion ($2.3 trillion).