Britain's exit reduces EU budget

The European Union's budget after the departure of Great Britain will need significant cuts in some programmes, the European Commission stressed, which is preparing to demand more money from Union member states to meet expected losses.

You'll probably need some sacrifices. We will have to make cuts in some major programmes and significant cuts”, the budget commissioner, Gunther Oettinger, warned at a conference in Brussels.

This debate announces the beginning of discussions on the next multi-year EU framework, while the current framework lasts until 2020.

The European Commission must present concrete proposals at the table in May and take a year to reach an agreement within the EU.

The multi-year financial framework sets the major political priorities, as well as the ceiling of expenses to be respected each year.