European Union leaders headed for a clash over the bloc’s budget on Friday after both net contributors and beneficiaries criticized an initial proposal on what the EU should pay for from 2028 to 2034 – and where the money should come from.

EU leaders will hold their first formal discussion on Friday, after the Cypriot presidency tabled the first so-called “negobox”, a draft document setting out possible spending…

The fight for the next EU budget is entering a new phase now that some numbers are finally on the table. The spending figures, put forward by the Cyprus presidency in a “nego…