MEPs adopt first reading position on EU budget for 2007 at €127.3 billion

The European Parliament adopted 26 October 2006 a 2007 draft budget substantially higher than that adopted by Council in its July first reading. Commitments are set at €127.3bn, payments are €122bn, equalling 1.04 % of GNI. Council had adopted a draft budget of €125bn in commitments and €114bn in payments, or 0.98% of GNI. With this vote, Parliament has stayed well within the margins of the Financial Perspective.