New taxes crucial to preserve EU budget, says Irish PM
But the Taoiseach added that an agreement on new levies would be “very complicated,” highlighting tensions in the negotiations.
DUBLIN — Irish Prime Minister Micheál Martin warned on Thursday that Brussels will need new taxes to prevent major cuts to the EU's upcoming seven-year budget. In a meeting with European Council President António Costa at Martin's residence, the leaders discussed negotiations for the Multiannual Financial Framework, the bloc's budget, which must be signed by an informal deadline at year's end.
Martin stated, "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." However, he added that reaching an agreement on new levies, or own resources, would be "very complicated," highlighting tensions in the negotiations.
The European Commission proposed five new taxes for 2025, expected to generate €60 billion annually, but national governments have been hesitant to support levies that would chiefly impact their domestic industries. Ireland, currently holding the rotating presidency of the Council of the EU and leading the budget talks, will release a new negotiating document with revised figures in the coming weeks.
Martin emphasized that if all member states cannot satisfy their ambitions, requests, and requests without sufficient new own resources, they will not be able to finalize the budget in time. A European leaders' meeting on October 15 is expected to address several own resources that have gained strong support among EU countries.
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