Politico, citing closed-door talks between the leaders of the two countries, reports that both are in favor of introducing a number of new EU-wide levies.

Specifically, the proposals include contributions from emissions trading, allocating part of the revenue from the carbon levy on imports, introducing a fee for uncollected electronic waste, allocating a share of tobacco excise duties, and introducing an annual levy on large companies with revenues of more than €100 million.

The new package is expected to generate around €58.5 billion annually. These funds should allow individual member states to reduce their contributions to the EU budget and help finance EU-wide programs more effectively.