MUNICH — The European Commission in May will produce a first draft of its proposed 2021-2027 budget that must accommodate heavy new investment in a next-generation Galileo satellite navigation infrastructure with the reality of Britain’s exit from the European Union.
Britain is the third-largest contributor to the EU’s budget after Germany and France, and just ahead of Italy. Its net contribution to the EU is around 12 billion euros ($14.7 billion) per year.
Neither of these two elements is new. But there is still . . .
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