سرafin says EU budget cuts would leave Europe with 1.02% of GNI

European Commissioner Serafin told ministers in Luxembourg on 13 October 2026 that the revised negotiating box for the EU’s next long-term budget would leave the bloc with funding equal to about 1.02% of EU gross national income, compared with around 1.13% agreed in December 2020, excluding NextGenerationEU repayments.

He said the Commission does not accept the negotiating box and is “very unhappy” with the outcome. In his view, the volume proposed for the next budget does not match the needs the European Union has set for itself, and he argued that the cuts would make investment in competitiveness, connectivity and security more likely to be fragmented and uncoordinated, with higher bills for taxpayers overall.

Serafin said the EU faces “more common projects, not less” at a time when he cited Russia’s escalation against Ukraine, tensions in transatlantic relations and intensifying trade disputes. He added that if more common projects are needed, the bloc also needs resources to fund them.

He also said the cushions, reserves and margins created to deal with unforeseen developments have been cut, leaving the EU to navigate future shocks “with our hands tied behind our backs”. He described that as a political choice, but “not a good one”.

On the revenue side, Serafin welcomed the Presidency’s decision to keep the package of new own resources on the table, saying leaders can decide on a balanced and ambitious package and that the Commission stands ready to help calibrate the final version.

He separately warned that the Presidency’s proposed cuts to administrative costs jeopardise the goal of equipping EU institutions to carry out existing and new tasks adequately.