After months of wrangling, an agreement has been reached between the President of the European Parliament and national governments that will deliver the historic 3.7 percent cut in the EU’s long-term budget, the Multiannual Financial Framework. 

After months of wrangling, an agreement has been reached between the President of the European Parliament and national governments that will deliver the historic 3.7 percent cut in the EU’s long-term budget, the Multiannual Financial Framework.

European Conservatives and Reformists Group leader Martin Callanan has welcomed the agreement and said that, although he will study its contents, it seems to meet ECR red lines. European Parliament group leaders will meet shortly to discuss the deal and the way forward ahead of an expected vote next week.

Mr Callanan said:

“The European Parliament has dragged its feet and sought to derail agreement on this deal. Thankfully the President of the Parliament has backed down and we hope other political groups will follow him.

“This agreement is not perfect. Too much EU money will still be spent on French cows and not enough on research and economic growth. However, the deal agreed moves the EU budget in the right direction.

“Given the many interests involved, nobody could have delivered every priority in these negotiations. However, our main priorities were to deliver a cut and a general reprioritisation of the budget towards areas that deliver economic growth. We are pleased to have been successful in delivering our headline objectives.

“Now it is time for MEPs to end the pointless posturing and accept this deal next week. Nobody will thank the European Parliament if it undermines a deal agreed by the EU’s 27 leaders, who pay the EU’s bills.”