New taxes crucial to preserve EU budget, says Irish PM

DUBLIN — Brussels needs new taxes to avert major cuts to its next seven-year budget, Ireland’s Prime Minister Micheál Martin said Thursday. The Irish leader met with European Council President António Costa at his country residence in Dublin to discuss negotiations and pave the way for signing a deal on the Multiannual Financial Framework, the bloc's seven-year budget, by an informal end-of-year deadline. “[If we want to protect] CAP [Europe's Common Agricultural Policy] and cohesion, yet enhance European competitiveness into the future, we need to generate significant own resources,” Martin told reporters after the talks.