EU Parliament rejects member states’ first draft of long-term budget

The EU Parliament has thrown out the first draft of the long-term budget, citing it as "insufficient" and objecting to the proposed €32.8 billion in spending cuts. This setback puts additional pressure on member states to find common ground before the end of 2026, as the Parliament's approval is essential. The outcome highlights the challenges in balancing fiscal responsibility with the need for robust funding to support EU initiatives and address future challenges.