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ECOFIN: 21 February 2017

My right honourable friend the Chief Secretary to the Treasury (David Gauke) has today made the following Written Ministerial Statement.

A meeting of The Economic and Financial Affairs Council (ECOFIN) was held in Brussels on 21 February 2017. EU Finance Ministers discussed the following items:

Early morning session

Ministers were briefed on the outcomes of the 20 February meeting of the Eurogroup, and the European Commission presented an update on the current economic situation following the publication of the Commission’s Winter Forecasts on 13 February. Ministers also discussed points of clarification in relation to the intergovernmental agreement on the Single Resolution Fund.

Anti-Tax Avoidance Directive

Ministers reached a general approach to the second Anti-Tax Avoidance Directive (ATAD2).

Current financial service legislative proposals

The Council Presidency provided an update on current legislative proposals in the field of financial services.

Criteria and process leading to the establishment of the EU list of non-cooperative jurisdictions for tax purposes

Following the Council conclusions agreed at ECOFIN on 8 November 2016, Council endorsed a state of play report by the Council Secretariat.

Preparation of the G20 Meeting of Finance Ministers and Central Bank Governors on 17-18 March 2017 in Baden-Baden

Ministers mandated the Economic and Finance Committee (EFC) to finalise the EU Terms of Reference for the next meeting of G20 Finance Ministers and Central Bank Governors.

Discharge to be given to the Commission in respect of the implementation of the budget for 2015

On the basis of a report from the European Court of Auditors, Ministers approved a Council recommendation to the European Parliament on the discharge to be given to the Commission in respect of the implementation of the 2015 budget.

Budget guidelines for 2018

Ministers adopted Council conclusions on the guidelines for the 2018 budget, which will serve as a point of reference in the forthcoming budgetary cycle.