The European Parliament and the Austrian Presidency reached a compromise on the financial perspective 2007-2013 on 4 April 2006. Following this compromise, an extra 300 million euros will be allocated to FP7 compared to the amount decided by the European Council in December 2005. This brings the total FP7 budget to little over 48 billion euro. However, no final figure for FP7 budget is yet available in any official document, as the approval procedure is currently underway.
A 48 billion euro budget for FP7 represents, according to a Commission spokeswoman, a 40% increase in constant 2004 prizes (taking into account inflation rates) compared to the FP6 (2002-2006) and a 60% increase in current 2004 prizes (inflation not taken into account).
As to the Competitiveness and Innovation Programme (CIP), the Commission's original proposal planned 4 billion for the period 2007-2013. The December 2005 European Council cut the amount to around 2.9 billion euro and the MEPs managed to negotiate an extra 400 million euro on top of that. According to these calculations, a total budget of almost 3.3 billion euro will be dedicated to the CIP.