The Prime Minister went on to admit he takes Ireland might have to pay more than other countries in the next seven years. Mr. Varadkar said: “I met with President Michel and President Von der Leyen last night along with the suggestion on the desk is just one we can not take.
“Essentially it implies Ireland will contribute more to the EU budget but will actually receive less back in terms of payments to Irish farmers and funds for regional growth and social development.
“We accept that as a country, as a growing economy will complete employments we might need to pay more to the EU funding during the next seven decades.
“But we can not accept in return for paying more in we would see very significant cuts to the cap and to cohesion funds.
“That is not something we can accept, and I made that very clear to President Von der Leyen and President Michel last night.
“On that basis I don’t think we will have an arrangement now on the Multiannual Financial Framework (MFF).”
Britain’s departure from the EU has caused tension in the bloc as remaining member nations have been “reluctant” to pay the $70 billion (£58 billion) emptiness in the budget.
Johannes Hahn, EU Budget, and Admin Commissioner, told CNBC that a breakthrough was urgently needed on the budget that was common in the crunch summit talk about their future spending, as leaders.
He explained a “significant delay” to a funding agreement would affect future European Union policy programs.
He maintained the future funding will be smaller but EU countries will have to pay in more to compensate for Britain’s lack due to Brexit.
Mr. Hahn said: “We’ve already anticipated the United Kingdom leaving.
“This is the reason why the future budget will be smaller since the UK was the next most significant contributor.
“The individual member states have to pay a bit more to compensate for the reduction of their UK but also to spend in future and necessary policy places.”
The CNBC reporter Silvia Amaro interviewing Mr. Hahn explained the member nations of the European Union will have to “step-up” from the lack of the United Kingdom.
Ms. Amaro added several EU nations are “reluctant” to maximize their spending which is ultimately causing tension among the nations.
Mr. Hahn insisted that a breakthrough required to be produced on the funding fast differently the EU’s policy plans were at risk.
Mr. Hahn closed by saying: “It is completely high time to find a budget deal.
“If there’s any additional significant delay it will have an influence on the start of the various programs.