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ECOFIN: 6 November 2018

My right honourable friend the Chancellor of the Exchequer (Philip Hammond) has today made the following Written Ministerial Statement.

A meeting of the Economic and Financial Affairs Council (ECOFIN) was held in Brussels on 06 November 2018. The UK was represented by Mark Bowman (Director General, International Finance, HM Treasury). The Council discussed the following:

European Free Trade Association (EFTA) dialogue

EU Finance Ministers were joined by representatives of the EFTA countries and held an exchange of views on the opportunities and challenges of FinTech to the financial sector and economic growth.

Early Morning Session

The Eurogroup President briefed the Council on the outcomes of the 05 November meeting of the Eurogroup, and the European Commission provided an update on the current economic situation in the EU. The Council also held an exchange of views on the Annual Report of the European Fiscal Board.

Digital Services Tax

The Council held an exchange of views on the state of play of the negotiations on the Digital Services Tax Directive.

Current Financial Services Legislative Proposals

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

European Court of Auditors’ Annual Report

The President of the Court of Auditors presented the Auditors’ report on the implementation of the budget of the European Union for the 2017 financial year.

EU Statistical Package

The Council adopted Council Conclusions on the autumn EU statistical package.

Conclusions on Climate Finance

The Council adopted Council Conclusions on climate finance as part of the annual process in the run up to the United Nations Framework Convention on Climate Change Conference of Parties in Poland on 02-14 Dec.

Follow-up to the G20 Meeting of Finance Ministers and Central Bank Governors and of the IMF Annual Meetings in Indonesia

The Austrian Presidency and the Commission presented the main outcomes of the G20 Meeting of Finance Ministers and Central Bank Governors and of the IMF Annual Meetings between 11 and 12 October in Bali, Indonesia.