EU leaders push back on a major budget proposal, putting a deal by 2027 in doubt

BRUSSELS -- European Union leaders voiced strong opposition on Thursday to a new proposal for the bloc’s long-term budget, raising serious doubt about whether the key spending package will be agreed by the end of year.“This is far too big, far too expensive,” Swedish Prime Minister Ulf Kristersson told reporters at an EU summit focused, in part, on trying to narrow down agreement on the seven-year budget, known as the multiannual financial framework.“It would increase the Swedish net contribution (by) almost 60%. That is simply totally unacceptable,” Kristersson said. Sweden is one of about 10 net contributing countries paying more into the EU budget than they get back in allocations.The 2028-2034 budget is likely to amount to between 1% and 1.2% of the 27-nation bloc’s gross national income. The MFF is financed mostly by the member countries based on the size of their economies, with net contributors paying almost half.The spending package is a statement about the EU's ambitions. It's being negotiated as the bloc deals with outside challenges such as supporting Ukraine as it fights off the Russian invasion and remaining competitive in the face of high energy prices and trade tensi...