Governments brace for €100B cut to EU budget proposal

BRUSSELS — EU governments are preparing for the upcoming proposal on the bloc's next long-term budget to include spending cuts of over €100 billion, four EU diplomats with knowledge of the discussions told POLITICO. Some countries are worried that funding for their pet projects, including farmers’ subsidies and regional payouts, will be slashed by the Irish presidency of the Council of the EU, which is set to present a negotiating document with new figures next week. With three months to go until an informal deadline to end negotiations, countries remain far away from an agreement.