On 10 October 2026, the Irish Presidency of the Council of the European Union (EU) circulated a revised negotiating box for the 2028 – 2034 Multiannual Financial Framework (MFF). It proposes an overall budget of EUR 1.622 billion in 2025 prices (around EUR 1.826 billion in current prices), i.e. 8% below the European Commission’s proposal, and a bigger cut that the 2% (EUR 32.8 billion) reduction in the Cyprus Presidency’s box (see ACA Newsletter – Education Europe, June 2026). The cuts are concentrated on competitiveness and external action, while the heading covering agriculture and cohesion is reduced by only around 3%. 

For the programmes most relevant to higher education, the box foresees: 

• EUR 39.1 billion for Erasmus+ in current prices, unchanged from the Cyprus box, but around 4% below the Commission’s EUR 40.8 billion and well short of the EUR 47.39 billion requested by the European Parliament and by the higher education sector organisations initially calling for EUR 60 billion;  
• around EUR 150 billion for Global Europe in 2025 prices (some EUR 169 billion in current prices), roughly 16% below the Commission’s proposal and down from EUR 169.5 billion (in 2025 prices) in the Cyprus box; and  
• EUR 158.2 billion for Horizon Europe in current prices (EUR 140 billion in 2025 prices), 9.6% below the Commission’s EUR 175 billion and below the EUR 167.9 billion of the Cyprus box. 

EU leaders discussed the Irish proposal at the European Council of 15 – 16 October 2026 but did not reach agreement. European Council President António Costa is expected to present a revised negotiating proposal ahead of a special summit on 26 – 27 November 2026, with the aim of reaching a deal by the end of the year.