EU chief concerned about 'severe cuts' proposed for next EU budget

BRUSSELS (Reuters) - The head of the European Union's executive arm, German conservative Ursula von der Leyen, said on Wednesday she was concerned about the "severe cuts" proposed for the bloc's long-term budget from 2021.European Commission head von der Leyen was commenting on the most recent proposal by current EU president Finland, as a tug-of-war between the bloc's member states drags on over their joint spending for 2021-27.The Finnish proposal to cap the budget at 1.07% of the bloc's gross..