BRUSSELS — A coalition of wealthy EU nations is demanding that the next long-term budget be dramatically scaled back as diplomats and officials try to reach a deal by year-end. In a letter seen by POLITICO, the leaders of Germany, the Netherlands, Austria, Denmark, Sweden and Finland call for the next draft of the budget to be "reduced by several hundred billion euros" when it is presented by Ireland, which holds the six-month rotating presidency of the Council of the EU. The next seven-year multi-annual financial framework, due to take effect in 2028, governs spending on everything from agriculture subsidies to defense schemes, infrastructure investments and payments to poorer regions. The European Commission proposed a budget of nearly €2 trillion.
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