{
  "id": 15867770,
  "title": "EU must raise its own revenue to avoid budget cuts - EPP",
  "url": "https://urgent.news/2026/10/21/eu-must-raise-its-own-revenue-to-avoid-budget-cuts-epp",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-21T08:44:48.000Z",
  "source": {
    "name": "RTE News",
    "slug": "rte-news",
    "url": "https://www.rte.ie/news/2026/1021/1596238-eu-raise-own-revenue-budget/"
  },
  "original_language": "en",
  "account": "Romanian MEP Siegfried Mureșan, vice chair of the European People's Party, has emphasized the need for the European Union to generate its own revenue to avoid budget cuts. Ireland, currently leading the EU presidency, has proposed cutting €159 billion from the EU's upcoming seven-year budget, while prioritizing spending on farmers and poorer regions and reducing funds for foreign aid, competitiveness programs, and EU administration. Foreign policy chief Kaja Kallas has criticized these proposals, warning they would severely impact the EU's resilience, security, stability, prosperity, competitiveness, and migration efforts. The Irish government has come under pressure to either reduce the €1.72 trillion budget initially proposed by the European Commission or preserve the Common Agricultural Policy (CAP) and cohesion payments. Instead, the government has proposed a 3% cut in farm spending and a 17% cut in the Global Europe heading.\n\nMureșan proposed three solutions to generate EU revenues: an own resource based on cryptocurrency transaction profits, an own resource from online gaming and gambling, and eventually a digital levy. He argued that if the EU does not adopt European-owned revenue sources, funding for research, security, and farming will be reduced, which would be a mistake. He criticized the Irish proposal, stating that it weakens the bloc and fails to prioritize security, defence, and competitiveness. The European Parliament is proposing a moderate 10% increase in funding for these areas without affecting farmers. However, the current Irish proposal would further cut the initial draft of the Commission's budget, leaving both traditional and new priorities underfunded. Mureșan stressed the urgency of reaching a budget agreement before the end of 2026, as upcoming elections in various countries could jeopardize the process.",
  "summary": "Romanian MEP and vice chair of the European People's Party group Siegfried Mureșan has said the European Union needs to be able to raise its own revenue to protect against budget cuts.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}