8 February 2013 Last updated at 14:51 ET

EU budget: Where the money goes

For the first time EU leaders have agreed to cut the multi-year budget, under pressure from the UK and some other countries.

Marathon talks in Brussels resulted in a 2014-2020 budget totalling 960bn euros (£812bn; $1.3tn) - the figure for commitments, that is, the maximum that the EU can spend. The actual payments are nearly always lower, and in this new budget the forecast payments total 908bn. Our graphic shows the commitments totals.

The commitments figure originally proposed by the European Commission was just above 1tn euros, so this deal is a significant cut. However, the European Parliament is yet to approve it and may still block it, so the final figures might be different.