‘A good result for Europe’: Deal reached on EU 2027 budget

Tánaiste Simon Harris said it marks a "good result for Europe and a good result for the Irish Presidency" 

Agreement had been reached on the European Union’s Budget for 2027, Tánaiste Simon Harris has announced.

Agreement had been reached on the European Union’s Budget for 2027, Tánaiste Simon Harris has announced.

The deal was agreed in the early hours of Wednesday morning following intensive negotiations in Brussels between the Council, chaired by Ireland as part of its Presidency, and the European Parliament, facilitated by the European Commission.

The Budget sets out how the EU will fund key programmes next year, supporting farmers and fishing communities, businesses, education, research, infrastructure and other priorities that affect people’s everyday lives.

The agreement provides for €199.7bn in commitments - funding the EU agrees to provide - and €211.5bn in payments, the money expected to be paid out during 2027.

It also leaves €710.1m available under the EU’s spending limits to help respond to unexpected challenges at a time of global uncertainty.

This final annual budget under the EU’s current seven-year spending plan gives governments, organisations and communities greater certainty as they plan for the year ahead.

Speaking following the agreement Mr Harris said: “This is a good result for Europe and a good result for the Irish Presidency.

“After long and detailed negotiations, we have secured an agreement on how Europe will invest in the year ahead.

“Behind the big numbers are real people and real projects: farmers and fishing communities, students and researchers, small businesses looking to grow, and investment in the infrastructure we all depend on.

“At a time of real uncertainty around the world, Europe needs to be able to plan and to act accordingly."

He said the agreement provides certainty, supports the things that matter to people and ensures there is room to respond when new challenges arise.

“Reaching agreement required hard work and compromise, but it shows what can be achieved when we work together.

“Taxpayers rightly expect every euro to count. That has been central to our approach throughout these talks," Mr Harris said.

The Tánaiste chaired the EU’s Economic and Financial Affairs (Budget) Council and led negotiations on behalf of the 27 Member States with the European Parliament.

The agreement must now be formally approved by the Council and the European Parliament.