There was no agreement on the next EU budget last Friday in Brussels after marathon talks collapsed after 30 hours.

While there was no agreement, there was an increased offer of €4.4bn for the next CAP budget, bringing the total CAP budget up to €333bn for the next seven years.This latest offer still falls short of the current €383bn CAP budget.

Last week, An Tánaiste Simon Coveney said that 85% of all EU money Ireland receives is in the form of CAP money.

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“What we’re being asked to do is reduce our take from the CAP budget by about €75m per year and we’re being asked to contribute an extra billion a year and we’re not going to accept that.

“An Taoiseach has made it very clear; if we are to contribute significantly more money because of the absence of the UK and because the EU has more things to do in terms of climate, external affairs, security… we are not willing to do that and at the same time accept a significant reduction in the CAP budget,” he said.

An Taoiseach Leo Varadkar said the current budget proposal is “a pay more and get less” one and did not think an agreement would be reached on it.

“What we can’t accept is that in return for paying more we would see very significant cuts to CAP and to cohesion funds,” he said.

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