EU leaders have failed to reach an agreement on the bloc’s next seven-year budget, raising concerns that funding for member states, including Malta, could face delays.During Thursday’s summit in Brussels, leaders remained divided over a proposed €1.62 trillion budget covering 2028 to 2034, despite a €141 billion reduction from the European Commission’s original proposal.The European Union had been hoping to finalise the agreement by December 2026, but disagreements over national contributions, agricultural subsidies and regional development funding have cast doubt on whether the deadline will be met.European Council President António Costa has warned that extending negotiations into 2027 could leave insufficient time to complete the necessary legislation before the new funding programme begins in January 2028.Meanwhile, European Parliament President Roberta Metsola criticised the proposed reductions, warning that the EU cannot continue setting ambitious priorities while cutting the resources needed to achieve them.Malta has also expressed concerns over the proposed introduction of new EU-wide taxes to finance the budget.Prime Minister Robert Abela previously insisted that taxation should remain under the control of national governments, while stressing that the next EU budget must address the challenges faced by geographically isolated countries such as Malta, particularly in connectivity, energy affordability and infrastructure.Several European leaders, including Italian Prime Minister Giorgia Meloni, have made it clear that securing a favourable agreement is more important than meeting the December deadline.Negotiations have also exposed divisions between countries demanding lower EU spending and those seeking to protect funding for agriculture and less-developed regions.With national elections scheduled across several member states in 2027, there are growing concerns that negotiations could stretch well into next year.EU leaders are expected to meet again on 26th November in another attempt to break the deadlock and secure an agreement before the end of 2026.What do you make of this?•