European Union leaders are set to debate the bloc’s next long-term budget during a Friday meeting, facing significant disagreement over proposed spending and funding mechanisms for 2028-2034. The European Commission has proposed a €2 trillion budget to finance EU policies, including agricultural support, regional development, technological advancements, and student exchange programs. Both net contributors and recipients of the EU budget have voiced strong criticism of the initial proposal. Disagreements center on how to finance these policies, prompting a search for new revenue streams. The budget is crucial for the functioning of the EU, impacting a wide range of initiatives across its 27 member states. Reuters reports the upcoming discussions are expected to be contentious as leaders seek a compromise.