Five European Union member states—Germany, Denmark, Finland, the Netherlands, and Austria—have criticized the European Commission’s proposed 60% increase in the EU budget for the years 2028–2034, calling it "simply not realistic." The leaders of these countries wrote a joint opinion piece in Politico, urging a reduction of "several hundred billion euros" from the Commission’s plan, which totals 2,000 billion euros, or 1.26% of the EU’s gross national income (GNI). A significant portion of the budget—about 168 billion euros, or 0.11% of GNI—would go toward repaying debt from the EU’s post-pandemic recovery fund. The five countries argue that the proposed budget places too much emphasis on pre-allocated subsidies and transfers, leaving less money for joint investments in areas like security, defense, innovation, and addressing illegal immigration. They also stress the need for greater resources to enhance the EU’s competitiveness. Meanwhile, countries that benefit more from the current budget structure—often referred to as "net beneficiaries"—express concerns that reducing the overall amount could lead to fewer funds for agriculture and efforts to balance living standards between the EU’s wealthier and poorer regions. Spain has proposed an alternative approach to repaying part of the EU’s post-pandemic recovery loan. Instead of repaying the debt quickly, Spain’s Economy Minister, Carlos Cuerpo, suggests linking repayments to economic growth and spreading them out over a longer period. This approach could free up about 70 billion euros. Under this plan, the EU would pay around 0.06% of its GDP annually, allowing the debt to be fully repaid by 2058, the deadline agreed upon by member states. EU governments are set to discuss the next budget during a series of summits in October, November, and December. The goal is to reach a consensus by the end of the year. The discussions will likely focus on balancing the competing priorities of budget cuts, debt repayment, and investment in key areas such as security and innovation. The outcome of these negotiations could shape the EU’s financial and political landscape for the next decade.