Transportation Industry
BUDGET 2008 : PARLIAMENT CALLS COUNCIL'S BLUFF ON GALILEO.
Transport Europe, November, 2007
The European Parliament, meeting in plenary session on 25 October in Strasbourg, voted at first reading on the EU's 2008 draft budget.
The assembly raised the funding proposed by the Council in all spending headings (see table). In accordance with the Budgets Committee's vote of 9 October, one of the biggest increases concern Galileo, the European satellite navigation project.
Parliament intends to back the Commission's proposal of 19 September to finance Galileo. To bridge the gap of 2.4 billion left by the lack of private sector funding, the EU executive proposes to retrieve credits not used in 2007 and 2008. In parallel, it suggests a revision of the multiannual financial planning to secure additional funds for the project. The EP wants to force...
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