Reiters: France may cut tax advantages for biofuels by around a third as part of a review of its 2008 budget, a move which could deal a heavy blow to the sector, a French politician said on Thursday. French firms are exempt from paying 0.25 euros per litre of the TIPP fuel tax for biodiesel, but this could be slashed to 0.18 euros per litre, if government plans transpired, said Stephane Demilly, who heads a parliamentary group on biofuels. Biodiesel is mainly derived from crops such as …