As a result of the Brexit, the EU budget will be reduced by EUR 12 billion a year in the near future. Therefore, the Commission negotiated on how to close this funding gap.
The decision was taken unanimously. Slight cuts should be accepted for example, by common agricultural policy and cohesion funding for poorer countries, two programmes that between them absorb
around 70 per cent of EU cash. The contributions are expected to increase from 1.0 of the total EU gross national income to 1.1 per cent.
Source:
https://sciencebusiness.net/framework-programmes/news/commissioners-unanimously-agree-protect-research-cuts-2021-27-budget