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Treasury

To ask Mr Chancellor of the Exchequer, what the outcome was of the ECOFIN Council held on 12th July; what the Government's stance was on each issue discussed, including its voting record; and if he will make a statement.

Asked by

Jim Hood (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Tabled on

12 July 2002

For answer on

17 July 2002

Answered on

17 July 2002

Mr. Hood: To ask the Chancellor of the Exchequer what the outcome was of the ECOFIN Council held on 12 July; what the Government's stance was on each issue discussed, including its voting record; and if he will make a statement. [70624] Dawn Primarolo: I attended the ECOFIN meeting on 12 July. The Presidency introduced their work programme for ECOFIN. I and a number of other Ministers, stressed the importance of ECOFIN discussing the economic and budgetary aspects of enlargement. ECOFIN then had an orientation debate on the Commission's Communication on company taxation "Towards an Internal Market without tax obstacles". I stressed that we could consider some of the proposed targeted measures based on existing directive but could not accept harmonisation of the corporate tax base or rate. The Presidency asked the Commission to take forward further work, concentrating on the proposed short term targeted measures. ECOFIN adopted conclusions on financial services, agreeing to extend the Lamfalussy procedures for securities legislation to the banking and insurance sectors. There will be further discussion of this at the October ECOFIN. ECOFIN agreed a mandate for an inter- institutional monitoring group to report on the progress of the Lamfalussy procedures in the securities markets. The Council also noted a brief oral update from the Commission on implications of the current market situation for financial services. The chairman of the Economic Policy Committee (EPC) gave an oral report to the Council, and presented two EPC papers on the relative merits of different pension systems. ECOFIN invited the Commission and the Economic Policy Committee to continue their work, focusing on the long term sustainability of pensions systems. There will be a joint Commission-Council report on pensions to the spring 2003 European Council. The Commission made a short presentation to the Council on public finances in EMU. ECOFIN noted the Commission's annual report on the protection of the Community's financial interests and the fight against fraud, and will discuss this again once the report has been considered by the relevant committees. ECOFIN agreed conclusions on Council reform as a follow up to the Seville European Council, and on methods of evaluating output gaps. No votes were taken at this meeting.

Date

17 July 2002

Reference

70624; 389 c338-9W

House

House of Commons

Treasury

To ask Mr Chancellor of the Exchequer, what the outcome was of the ECOFIN Council held on 20th June; what the Government's stance was on the issues discussed, including its voting record; and if he will make a statement.

Asked by

Roger Casale (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Tabled on

20 June 2002

For answer on

27 June 2002

Answered on

27 June 2002

Roger Casale: To ask the Chancellor of the Exchequer what the outcome was of the ECOFIN Council held on 20 June; what the Government's stance was on the issues discussed, including its voting record; and if he will make a statement. [64363] Mr. Gordon Brown: I attended the ECOFIN meeting on 20 June. ECOFIN agreed the Commission's recommendations for the broad economic policy guidelines for 2002 to 2003. The UK supports the guidelines which emphasise the importance of further structural reform in Europe. Following discussion at the Seville European Council the guidelines were adopted by ECOFIN on June 21. ECOFIN discussed arrangements for launching the Euro-Mediterranean Facility in the European Investment bank. It was decided that the facility would be launched in the autumn on the basis of the commission's funding plan but that the European Investment bank, the commission and the council would take forward discussions on the allocation of funds for the facility. The council agreed two reports to go to the European Council at Seville. The first was a progress report on energy taxation, and the second an updated report on the tax package, following the launch of negotiations with the Swiss on the tax on savings. Commissioner Bolkestein gave a short oral report to the council on the work of the financial action task force in combating terrorist financing and ECOFIN noted that this work was progressing satisfactorily. ECOFIN was also updated by the chair of the Economic and Financial Committee on on-going work to improve corporate governance in the EU. The council also reached political agreement on a directive on taxation of biofuels. No votes were taken at the meeting.

Date

27 June 2002

Reference

387 c1051-3W;387 c1050-1W; 64363

House

House of Commons

Treasury

To ask Mr Chancellor of the Exchequer, what the outcome was of the ECOFIN Council held on 4th June; what the Government's stance was on the issues discussed, including its voting record; and if he will make a statement.

Asked by

Jim Hood (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Tabled on

13 June 2002

For answer on

18 June 2002

Answered on

18 June 2002

Mr. Hood: To ask the Chancellor of the Exchequer what the outcome was of the ECOFIN Council held on 4 June; what the Government's stance was on the issues discussed, including its voting record; and if he will make a statement. [62929] Mr. Gordon Brown: I attended the ECOFIN meeting on 4 June. ECOFIN had an orientation discussion on the Broad Economic Policy Guidelines. These will be considered further at the ECOFIN meeting on 20 June prior to the Seville European Council. The Council noted that a qualified majority existed on a presidency compromise text on the occupational pensions directive. ECOFIN also had an orientation discussion on the draft directive on prospectuses, and the Commission presented its sixth half-yearly progress report on the Financial Services Action Plan. ECOFIN adopted conclusions on the tax package. I reported on the significant progress the UK has made in discussions with our overseas and dependent territories on taxation of savings, which was welcomed by the Council. The Commission gave an oral update on progress on negotiations with third countries. ECOFIN called for greater progress to be made, and a presidency letter to the Swiss President was agreed. Presidency guidelines on energy taxation were discussed. These were discussed further by the High Level Group (HLG) on Energy Taxation on 11 June, and the chairman of the HLG will report back to ECOFIN on 20 June. There was a conciliation meeting with the European Parliament to examine the remaining outstanding items on the recasting of the financial regulation. Agreement was reached on the draft text. ECOFIN discussed the VAT treatment of cross-border motor vehicle leasing, and invited the presidency and the Commission to examine the situation and report at the end of 2002. The Council noted a preliminary oral report on issues of corporate governance by Professor Winter (Chairman of the High Level Group on Company Law). ECOFIN also adopted texts on the preparations for the World Summit on Sustainable Development and on the implementation of the new EIB Euro-Mediterranean Facility. No votes were taken at the meeting.

Date

18 June 2002

Reference

62929; 387 c320-1W

House

House of Commons

Foreign and Commonwealth Office

Statement on the (a) forthcoming business in the Council of the European Union for June and (b) major European Union events for the period between 1st July and November.

Asked by

Kali Mountford (Labour)

Answering body

Foreign and Commonwealth Office

Type

Written questions

Status

Answered

Tabled on

10 June 2002

For answer on

11 June 2002

Answered on

11 June 2002

Kali Mountford: To ask the Secretary of State for Foreign and Commonwealth Affairs if he will list the (a) forthcoming business in the Council of the European Union for June and (b) major European Union events for the period between 1 July and November. [61249] Peter Hain: The information is as follows. 4 June--ECOFIN--Brussels 1. Adoption of the agenda 2. (poss.) Approval of the list of "A" items 3. Preparation of the Seville European Council Council report on Broad Economic Policy and Guidelines Council report on administrative co-operation in tax matters 4. (poss.) Recasting of the Financial Regulation 5. Macro-financial assistance Policy debate 6. Directive on prospectuses Policy debate 7. (poss.) Directive on Institutions for Occupational Retirement Provision Political agreement 8. Sixth half-yearly Commission report on the Financial Services Action Plan 9. Tax Matters Tax Package Savings taxation Report on dependent or associated territories Report on negotiations with third States Code of Conduct: progress report (poss.) Taxation of biofuels Political agreement (poss.) Energy taxation Administrative co-operation in tax matters Council conclusions VAT treatment of cross-border motor vehicle leasing 10. Methods of evaluating output gaps 11. Advantages of the different types of pension schemes 12. Other business 6-7 June--Industry and Energy Council--Brussels 1. Approval of provisional agenda 2. (poss.) Approval of the list of "A" items 3. Competitiveness and enterprise policy in the EU (a) Commission communication "Productivity: the key to competitiveness"--annual Commission report on competitiveness (2002) Presentation by the Commission and discussion Council conclusions (b) Communication from the Commission on the impact of the e-Economy on European businesses: economic analysis and political implications 14748/01 ECO 367 Council conclusions (c) Report on the European Charter for Small Enterprises: Follow-up to the Barcelona European Council on 15 and 16 March 2002 Presidency briefing 6125/02 ECO 38 4. Sustainable development (a) Strategy for chemicals Commission briefing (b) Contribution of enterprise policy to sustainable development Discussion Council conclusions 5. Steel (a) Expiry of the ECSC treaty Commission briefing (b) Situation on the world steel market Commission briefing 6. (poss.) Shipbuilding (a) Fifth report from the Commission to the Council on the situation in world shipbuilding Presentation by the Commission 8689/02 RC 6 (b) Proposal for a Council regulation concerning a temporary defensive mechanism inn shipbuilding (LA)(*) (Articles 87(3) and 89 of the treaty) 11335/01 RC 14 WTO 83 7. Competition (a) Proposal for a Council regulation on the implementation of the rules on competition laid down in Articles 81 and 82 of the treaty and amending regulations (EEC) No. 1017/68, (EEC) No. 2988/74, (EEC) No. 4056/86 and (EEC) No. 3975/87 Progress report (b) XXXIst Commission report on Competition Policy 2001 Presentation by the Commission 8455/02 RC 4 8. (poss.) Reduction/re-orientation of public aid, State-aid scoreboard--spring 2002 edition Presentation by the Commission 9. Life sciences and biotechnology--A strategy for Europe Council conclusions 6415/02 RECH 40 ENV 103 CONSOM 14 SAN 24 DEVGEN 15 MI 31 IND 23 AGRI 43 SOC 87 RELEX 27 EDUC 30 AG 6 10. Euromed--industrial cooperation Presidency briefing on the outcome of the Ministerial Conference in Malaga on 9 and 10 April 2002 7922/02 ECO 116 MED 30 11. G10 medicinal products Report from the High-Level Working Party on innovation and the supply of medicinal products Commission briefing Energy (7 June 2002) 12. Proposal for a Council regulation on state aid to the coal industry after the expiry of the ECSC treaty (LA) (*) (Articles 87 and 89 TEC) Political agreement 13. Internal market in electricity and gas (a) Proposal for a directive of the European Parliament and of the Council amending Directives 96/92/EC and 98/30/EC concerning common rules for the internal market in electricity and natural gas (LA) (*) (Article 95 TEC) Political agreement (b) Proposal for a regulation of the European Parliament and of the Council on conditions for access to the network for cross-border exchanges in electricity (LA) (Article 95 TEC) Progress report 14. Proposal for an amendment to the Decision of the European Parliament and of the Council amending Decision 1254/96/EC laying down a series of guidelines for trans-European energy networks (LA) (Article 196 TEC) General approach 15. Proposal for a directive of the European Parliament and of the Council on the promotion of the use of biofuels for transport (LA) (Article 175 TEC) General approach 16. Energy Charter Progress report 17. Proposal for a Decision of the European Parliament and of the Council adopting a multi-annual programme for action in the field of energy: "Intelligent Energy for Europe" Programme (2003-2006) (LA) (Article 175 TEC) Presentation by the Commission 18. Security of energy supply Commission briefing on follow-up to consultations on the Green Paper on security of supply Other business Other business 3--Brussels--Employment and Social Affairs Council 3--Brussels--Eurogroup (evening) 4--Brussels--ECOFIN 6-7--Brussels--Convention on the Future of Europe--Plenary Session 6-7--Madrid--EU-ASEM meeting (EU 15) 6-8--Brussels--Foreign Affairs (ASEM Ministers) 10-11--Brussels--General Affairs Council 10-11--Brussels--Agriculture Council 11--Brussels--Fisheries Council 13-14--Brussels--Justice and Home Affairs Council 17-18--Brussels--Transport and Telecommunications Council 17-18--Brussels--General Affairs Council 21-22--Seville--European Council 24--Brussels--General Affairs Council (evening) 24-25--Brussels--Convention on the Future of Europe-- Plenary Session 24-25--Brussels--Environment Council 25--Brussels--ECOFIN 26--Brussels--Health Council The following are the principal events in the EU between 1 July and November 2002. The list is based on the information available at the date of issue. _________________________________________________________________________________________________. Date Venue Event July 12-13 Kolding Meeting of Employment and Social Policy Ministers (Informal) 15-16 Brussels Agriculture Council 19 Brussels Budget Meeting 19-21 AÐrhus Environment Ministers meeting (Informal) 22-23 Brussels General Affairs Council August 31-1 Elsinore Gymnich (Ministerial Informal) September 6 Brussels ASEM Economic Ministers Meeting 6-8 Copenhagen ECOFIN (Ministerial Informal) 8-10 Nyborg Agriculture Council (Ministerial Informal) 12-13 Copenhagen Justice and Home Affairs Council (Ministerial Informal) 22-23 Copenhagen ASEM Meeting 23-24 Brussels Agriculture Council 26 Brussels Internal Market, Consumer Affairs and Tourism Council 27 Tent ACP-EU Ministers Meeting 30 Brussels Research Council 30-1 Brussels General Affairs Council October 3-4 Brussels Transport and Telecommunications Council 8 Brussels ECOFIN October 8 Brussels Employment and Social Policy Council 14 Brussels Fisheries Council 14-15 Brussels Justice and Home Affairs, and Civil Protection Council 15-16 Brussels Agriculture Council 17 Brussels Environment Council 18-19 Aalborg Internal Market, Consumer Affairs and Industry Meeting (Ministerial Informal) 21-22 Brussels General Affairs Council 24-25 Brussels European Council November 1 Brussels Culture Council 2 Brussels ECOFIN--Troika meeting on Macro-Economic Dialogue 12 Brussels Education and Youth Council 14-15 Brussels Internal Market, Consumer Affairs and Youth Council 18 Brussels Fisheries Council 18-19 Brussels General Affairs Council 19-20 Brussels Agriculture Council 22 Brussels Development Council 25-26 Brussels Budget [Council] 25-26 Brussels Industry and Energy Council 28-29 Brussels Justice and Home Affairs, and Civil Protection Council _________________________________________________________________________________________________.

Date

11 June 2002

Reference

61249; 386 c1179-84W;386 c1180-4W

House

House of Commons

Treasury

Statement on what the outcome was of the ECOFIN Council held in Brussels on 7th May; what the Government's stance was on the issues discussed, including its voting record.

Asked by

Jim Hood (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Tabled on

8 May 2002

For answer on

13 May 2002

Answered on

13 May 2002

Mr. Hood: To ask the Chancellor of the Exchequer what the outcome was of the ECOFIN Council held in Brussels on 7 May; what the Government's stance was on the issues discussed, including its voting record; and if he will make a statement. [55301] Mr. Gordon Brown: I attended the ECOFIN Council on 7 May. ECOFIN held an orientation discussion on the draft Commission proposals for the 2002 Broad Economic Policy Guidelines. After further preparatory work in the Economic and Financial Committee, the draft guidelines will be agreed at ECOFIN in June and submitted to the Seville European Council. Political agreement was reached on the draft directive for financial conglomerates and on the articles of the draft directive on market abuse. After clarification of the recitals, the market abuse directive will return at the 4 June ECOFIN for political agreement on the text as a whole. ECOFIN discussed a Presidency key issues paper on energy taxation. It was agreed that further preparatory work should be undertaken, with a view to reaching political agreement at the 4 June ECOFIN. The Commission gave an oral update on progress with third countries on the savings tax directive. Ministers updated the Council on progress with dependent territories. The Commission introduced the Preliminary Draft Budget for 2003. Along with colleagues, I stressed the importance of respecting the Berlin Financial Perspective ceilings. I also welcomed the Commission's proposals to target a greater proportion of external aid at the poorest countries, and called for further progress towards meeting the EU's November 2000 Development Strategy. The draft budget for 2003 will be agreed at the Budget Council in July. ECOFIN discussed the Council's proposal for a revised Financial Regulation. Italy maintained its reserve on the article allowing delegation of aid delivery to member state agencies. Ministers requested further discussion of this by EU Ambassadors in COREPER to enable the regulation to be agreed at the 4 June ECOFIN. Under Any Other Business, the Swedish Finance Minister emphasised the need to keep track of member states' progress in meeting the development aid target agreed at the recent Monterrey Conference. It was agreed that ECOFIN would consider the issue at a later date. Following discussion over lunch, ministers also adopted texts on the economic and financial aspects of the EU-Latin America summit and on further work on arrangements for financial supervision and stability. No votes were taken at the meeting.

Date

13 May 2002

Reference

55301; 385 c434-5W

House

House of Commons

Treasury

Statement on what the outcome was of the ECOFIN Council held in Barcelona on 14th March; what the Government's stance was on the issues discussed, including its voting record; and if he will make a statement. - Including figures.

Asked by

Roger Casale (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Tabled on

20 March 2002

For answer on

25 March 2002

Answered on

25 March 2002

Roger Casale: To ask the Chancellor of the Exchequer what the outcome was of the ECOFIN Council held in Barcelona on 14 March; what the Government's stance was on the issues discussed, including its voting record; and if he will make a statement. [45951] Mr. Gordon Brown: I attended ECOFIN on 14 March. Following previous discussions at the March ECOFIN and at the General Affairs Council, ECOFIN discussed further the draft EU position for the UN Financing for Development Conference in Monterrey. This was subsequently endorsed by heads of government at the Barcelona European Council. This position commits EU member states to increasing overseas development assistance as a proportion of Gross National Product to an EU average of 0.39 per cent. by 2006. This is a significant step forward for global social justice, that will provide around $7 billion a year in additional aid. ECOFIN also considered proposals for strengthening EU development assistance to the Mediterranean region. It was agreed that a European Investment Bank Facility should be set up, and that this would be evaluated after a year and a decision then taken on whether it should be developed into a subsidiary involving other shareholders. This agreement was endorsed by the Barcelona European Council. The implications of the Enron affair for corporate governance were discussed. It was agreed that ECOFIN would look again at this issue in light of work being undertaken by the Finance Stability Forum. ECOFIN discussed whether Government-backed airline insurance schemes for covering third party war and terrorism risks should be extended beyond the end of March. It was agreed that further analysis should be provided before the discussion at the Transport Council on 26 March. No votes were taken at the meeting.

Date

25 March 2002

Reference

45951; 382 c748W;382 c743-4W

House

House of Commons

Treasury

To ask Mr Chancellor of the Exchequer, what the outcome was of the ECOFIN Council held in Brussels on 5th March; what the Government's stance was on the issues discussed, including its voting record; and if he will make a statement.

Asked by

Jim Hood (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Tabled on

7 March 2002

For answer on

12 March 2002

Answered on

12 March 2002

Mr. Hood: To ask the Chancellor of the Exchequer what the outcome was of the ECOFIN Council held in Brussels on 5 March; what the Government's stance was on the issues discussed, including its voting record; and if he will make a statement. [42705] Mr. Gordon Brown: The Paymaster General and I attended the ECOFIN Council. ECOFIN agreed a Key Issues Paper on the 2002 Broad Economic Policy Guidelines, which will be submitted to the Barcelona European Council. Ministers also agreed reports on structural reform, increasing labour market participation and promoting active aging and healthcare and care for the elderly. They also adopted an ECOFIN report on the integration of environmental and sustainable development into economic policy making. ECOFIN discussed the mid-term review of the Financial Services Action Plan and agreed that progress should be accelerated to meet the deadlines agreed at the Lisbon European Council. ECOFIN endorsed the European Commission's study on globalisation and development and agreed a statement on it. Ministers also considered a Commission report on the preparation of the International Conference on Financing for Development in Monterrey. I called for European Union member states to lead the way on global social justice, to set out a strong EU position in support of the aims of the conference, and specifically to make a new commitment to increasing overseas development assistance as a proportion of Gross National Product. This issue was discussed further at the General Affairs Council on 11 March. An opinion on the Danish Convergence Programme was agreed and the Commission's oral update on the transition to the euro was noted. ECOFIN agreed Council priorities for the 2003 budget. Ministers also noted the implementation of initiatives to improve management and accounting in order to combat fraud and irregularity, and consequently agreed a recommendation that the European Parliament grant discharge of the 2000 budget. The Commission outlined its Green Paper on the European Public Prosecutor. There was widespread agreement to see how the new Eurojust fared before considering alternatives. Ministers discussed a number of proposals for strengthening EU development assistance to the Mediterranean region. No agreement was reached at this stage on the potential role of a new financing institution, and ECOFIN will consider the matter further at its meeting on 14 March ahead of the Barcelona European Council. The Presidency presented a paper on administrative cooperation on tax matters. The paper will be considered further by the Fiscal Questions Group and ECOFIN will then be asked to adopt a report to the Seville European Council in June. The Paymaster General, in her role as Chair of the Code of Conduct Group, delivered an oral report on the Group's progress and its work programme under the Spanish Presidency. There will be a further update on the Group's work at the ECOFIN in June. No votes were taken at the meeting.

Date

12 March 2002

Reference

42705; 381 c964-5W;381 c965-6W

House

House of Commons

Treasury

To ask Mr Chancellor of the Exchequer, for what reason no devolved administration minister attended the 2407th European Union Council of Ministers (EcoFin) meeting on 12th February; what suggestions and matters of concern from the Scottish Executive were raised in their absence by the UK government delegation; and what information...

Asked by

Angus Robertson (Scottish National Party)

Answering body

Treasury

Type

Written questions

Status

Answered

Date

27 February 2002

Reference

38036; 380 c1327W;380 c1329W

House

House of Commons

Treasury

Statement on what the outcome was of the ECOFIN Council held in Brussels on 12th February.

Asked by

Jackie Lawrence (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Tabled on

12 February 2002

For answer on

25 February 2002

Answered on

25 February 2002

Mrs. Lawrence: To ask the Chancellor of the Exchequer what the outcome was of the ECOFIN Council held in Brussels on 12 February. [36862] Mr. Gordon Brown: I attended ECOFIN on 12 February. The European Commission presented reports on the functioning of EU product and capital markets and set out its priorities for the 2002 Broad Economic Policy Guidelines. The Council examined and after debate agreed opinions on the updated stability and convergence programmes for Germany, Greece, Spain, France, Ireland, Italy, Portugal and the United Kingdom, produced in line with the Stability and Growth Pact. The Council also agreed additional statements on Germany and Portugal, in which both countries set out the disciplines they should follow in future years. The Commission and the ECB summarised latest developments on the transition to the euro. The presidency noted that all member states had now ratified the Council decision of September 2000 on own resources. This will now take effect from March 2002, with any differences resulting from the late entry into force being corrected with retrospective effect from 1 January. The Commission presented its proposals for a budgetary framework for enlargement, for use in the accession negotiations. Following a brief discussion, the presidency concluded that the Commission should now draw up draft common positions for the financial aspects of enlargement that were in conformity with the Berlin European Council budgetary settlement. These should not be linked with parallel discussions later in the year on reform of the common agricultural policy. Equally, it was important that enlargement should not impede reform. ECOFIN reached political agreement on VAT on e-commerce without discussion. The amended directive and regulation make welcome changes to the rules governing the taxation of digitised products, so as to correct certain distortions of competition. During the negotiations the UK successfully secured an explicit commitment, which now features in the directive, to move, by 2006, to a comprehensive electronic solution for the taxation of such items which will treat EU and non-EU businesses on an identical basis.

Date

25 February 2002

Reference

36862; 380 c1034W;380 c1036W

House

House of Commons

Treasury

To ask Mr Chancellor of the Exchequer, if he will make a statement on what his policy will be during discussions on Germany's projected budget deficit at ECOFIN on 12th February.

Asked by

Nick Gibb (Conservative)

Answering body

Treasury

Type

Written questions

Status

Answered

Date

4 February 2002

Reference

33185; 379 c707W;379 c703W

House

House of Commons

Treasury

To ask Mr Chancellor of the Exchequer, what the outcome was of the ECOFIN Council held in Brussels on 22nd January; what the Government's position was on each issue discussed, including its voting record; and if he will make a statement.

Asked by

Jim Hood (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Tabled on

22 January 2002

For answer on

29 January 2002

Answered on

29 January 2002

Mr. Hood: To ask the Chancellor of the Exchequer what the outcome was of the ECOFIN Council held in Brussels on 22 January; what the Government's position was on each issue discussed, including its voting record; and if he will make a statement. [30373] Mr. Andrew Smith: I attended the ECOFIN on 22 January. The incoming Spanish presidency and the Commission introduced their work programmes. In the ensuing debate, I stressed the need for the EU to pursue vigorous structural reforms in product, labour and capital markets to stimulate growth and create jobs. ECOFIN adopted Opinions on the Stability and Convergence Programmes of Austria, Belgium, Finland, Luxembourg, the Netherlands and Sweden. Ministers endorsed the Economic Policy Committee's report on Research and Development, and agreed that it should be sent to the March European Council in Barcelona. The Government support the report's proposals for boosting innovation in the EU. The European Commission gave an oral update on the transition to euro notes and coins. ECOFIN welcomed the smooth progress achieved so far. Ministers discussed the state of ratification of the Own Resources Decision. This was due to take effect from 1 January 2002, but has still to be ratified by some member states. The UK completed the process of ratification on 4 December 2001. The European Commission gave an oral update on negotiations with third countries regarding the draft directive on the taxation savings. ECOFIN agreed a statement on Argentina, in response to the economic crisis there. No votes were taken at the meeting.

Date

29 January 2002

Reference

30373; 379 c225-6W;379 c224W

House

House of Commons

Treasury

To ask Mr Chancellor of the Exchequer, what is the most recent (a) report and (b) other publication of the Code of Conduct Group on harmful tax competition. - Includes ref to 376 c770W.

Asked by

John Bercow (Conservative)

Answering body

Treasury

Type

Written questions

Status

Answered

Date

15 January 2002

Reference

27463; 378 c246-7W;378 c260-1W

House

House of Commons

Treasury

Statement on what the outcome was of the ECOFIN Council held in Brussels on 13th December; what the Government's position was on each issue discussed, including its voting record; and if he will make a statement.

Asked by

Jim Hood (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Tabled on

14 December 2001

For answer on

8 January 2002

Answered on

8 January 2002

Mr. Hood: To ask the Chancellor of the Exchequer what the outcome was of the ECOFIN Council held in Brussels on 13 December; what the Government's position was on each issue discussed, including its voting record; and if he will make a statement. [23888] Ruth Kelly: The Chancellor and the Paymaster General attended ECOFIN on 13 December. On the introduction of the euro the Commission summarised the main points of the recently published Eurobarometer poll. ECOFIN agreed a statement of the economic situation, which was submitted to the Laeken European Council. The Commission reported that important progress had been made on implementation of the financial services action plan under the Belgian presidency. Six new proposals would be tabled by the Commission in 2002, including an update of the Investment Services Directive and the Capital Adequacy Directive. The Commission planned a mid-term review of the action plan before the Barecelona European Council in March 2002. ECOFIN agreed a general orientation on a directive on combating market abuse. UK secured its negotiating objectives to deliver an effects-based regime with appropriate safeguards for innocent behaviour. Once the European Parliament has completed its first reading of the directive, the Council should be able to agree a formal common position. ECOFIN also agreed a general orientation on the amended collateral directive, which is designed to ensure legal certainty for cross-border and domestic collateral arrangements. This is another step forward in the completion of a single market in financial services. A general orientation was established on a compromise text for a draft regulation on accounting standards, which provides for the adoption of international accounting standards throughout the EU. The agreement is subject to a final Memorandum of Understanding between the European Commission and the International Accounting Standards Committee Federation on the subject of copyright. The Commission presented an interim version of their Globalisation and Development Report. The final report will be published in February 2002. On VAT on e-commerce, a text was agreed providing for the adoption of an electronic portal solution with a time-limited interim arrangement. This meets the UK's objective of introducing a non-burdensome method of applying VAT to products downloaded from the internet, which will be non-discriminatory and apply at the place of consumption. On the proposed directive for ensuring effective taxation of savings income, ECOFIN reconfirmed the agreement reached at the Feira European Council in June 2000, and agreed a text to form the basis for negotiations with third countries. ECOFIN also discussed the proposed energy products directive. The Chancellor stressed that any directive must allow the UK to exempt domestic fuel from minimum duty rates. The presidency reported the discussion to the European Council at Laeken. No votes were taken at the meeting.

Date

8 January 2002

Reference

23888; 377 c812-3W;377 c816-7W

House

House of Commons

Treasury

Statement on outcome was of the ECOFIN Council held in Brussels on 4th December; what the Government's stance was on each issue discussed, including its voting record; and if he will make a statement.

Asked by

Jim Hood (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Tabled on

5 December 2001

For answer on

11 December 2001

Answered on

11 December 2001

Mr. Hood: To ask the Chancellor of the Exchequer what the outcome was of the ECOFIN Council held in Brussels on 4 December; what the Government's stance was on each issue discussed, including its voting record; and if he will make a statement. [22057] Mr. Gordon Brown: I attended ECOFIN on 4 December. ECOFIN agreed reports to the Laeken European Council on pensions and on structural performance indicators (to measure progress on economic reform). The report on pensions respects the position of the Government and other member states that decisions on pensions are primarily for member states. I reminded ECOFIN colleagues of the importance of economic reform and it was agreed that ECOFIN should closely monitor progress. There was a discussion of the tax package, including the directive on taxation of savings. I made it clear, along with 11 other Finance Ministers, that the substantial content of this directive had been agreed by ECOFIN in November 2000, reflecting the principles agreed at the Feira European Council, and that this should now be reopened. The Commission noted that it would shortly commence formal negotiations with third countries on the adoption of equivalent measures. I reported on the Government's discussions with United Kingdom dependent territories, noting that every jurisdiction recognised and fully supported the need for greater co-operation in the fight against tax abuse and evasion. ECOFIN received a written report from the Code of Conduct working group, which the Paymaster General chairs. There was no discussion of the report. The Commission provided a progress report on its negotiations with the European Parliament on the Lamfalussy procedure to fast-track financial services legislation. During a short discussion of the draft prospectus directive, I emphasised that it must meet its objective of reducing the cost of capital, particularly for small and medium-sized enterprises. The Court of Auditor's annual report was presented to Ministers. The Commission noted that, since not all member states had yet ratified the new Own Resources Decision, the 2002 Community budget would in the meantime need to be based on the old Own Resources Decision. The UK has already ratified this Decision. Along with six other Finance Ministers--a majority of those speaking--I called for further analysis of the Galileo satellite navigation project before additional funds are committed. Most member states could accept a March 2002 cut-off date for ending government guarantees for airline insurance. The Government recently extended their scheme--Troika--until 22 January 2002. In a discussion of the forthcoming UN Financing for Development (FfD) conference, I emphasised that EU aid should be reformed to make it more effective and that untying was an important way to meet aid targets. I also advocated the international development trust fund as a way to lever in more resources to reach the $50 billion target in the Zedillo report. The Commission agreed to examine an Austrian proposal to tackle VAT fraud. It was agreed that concrete proposals would be brought forward on gender mainstreaming the Broad Economic Policy Guidelines. Agreement was not reached on EIB loans to EFTA countries. This will be discussed again on 13 December. ECOFIN was followed by a dialogue with the Finance Ministers of the 13 candidate countries and the European central bank, which focused on the need for structural reforms in the candidate countries and real convergence with the EU. A joint communique was agreed. No votes were taken at the meeting.

Date

11 December 2001

Reference

376 c770-1W; 22057

House

House of Commons

Deposited Paper DEP 01/1640

Deposited by

Home Office

Type

Deposited papers

Date

26 November 2001

Reference

DEP 01/1640

House

House of Commons

Deposited Paper DEP 02/134

Deposited by

Treasury

Type

Deposited papers

Date

20 November 2001

Reference

DEP 02/134

House

House of Commons

Treasury

Statement on what the outcome was of the ECOFIN Council held in Brussels on 6th November; what the Government's stance was on each issue discussed, including its voting record; and if he will make a statement.

Asked by

Jim Hood (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Tabled on

6 November 2001

For answer on

12 November 2001

Answered on

12 November 2001

Mr. Hood: To ask the Chancellor of the Exchequer what the outcome was of the ECOFIN Council held in Brussels on 6 November; what the Government's stance was on each issue discussed, including its voting record; and if he will make a statement. [13437] Dawn Primarolo: I attended the ECOFIN Council. The Commission presented its communication on company taxation. I made clear that while the Government might support some action to tackle barriers to cross-border business, they do not support the Commission's proposal for a consolidated company tax base in the EU. The specific proposals contained within the study will be considered in due course. The Commission presented its progress report on the Risk Capital Action Plan, highlighting the need for the EU to remove barriers to a single EU risk capital market. I stressed the UK's support for the objectives of the action plan, but expressed concern that the proposed prospectuses directive, as currently drafted, would have the effect of reducing the supply, and increasing the cost, of risk capital. The Council agreed that rapid progress on the Risk Capital Action Plan was necessary, in line with the timetable agreed at the Lisbon European Council. The Council noted Economic Policy Committee reports on the budgetary impact of aging populations and on the measurement of output gaps. It also noted a report from the Economic and Financial Committee on measures to improve the quality and timeliness of Eurozone statistics. The Council also adopted conclusions with respect to Ireland's compliance with the Council Recommendation of 12 February 2001, which recommended measures to bring the 2001 Irish budget in line with the 2000 Broad Economic Policy Guidelines. The Council agreed that the earlier Recommendation had lost part of its force, mainly due to exogenous shocks that have reduced inflationary pressures in the Irish economy. ECOFIN agreed that taxation of audiovisual and musical products should be examined by the Commission in the context of its wider review of VAT reduced rates, and not by the Culture Council, as taxation matters are for ECOFIN. No votes were taken at the meeting.

Date

12 November 2001

Reference

13437; 374 c537W

House

House of Commons

Treasury

To ask Mr Chancellor of the Exchequer, what the outcome was of the ECOFIN Council held in Brussels on 16th October; what the Government's stance was on each issue discussed, including its voting record; and if he will make a statement. - Includes fact that also attended the joint ECOFIN/JHA...

Asked by

Jim Hood (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Tabled on

17 October 2001

For answer on

24 October 2001

Answered on

24 October 2001

Mr. Hood: To ask the Chancellor of the Exchequer what the outcome was of the ECOFIN Council held in Brussels on 16 October; what the Government's stance was on each issue discussed, including its voting record; and if he will make a statement. [9364] Mr. Gordon Brown: I attended the meeting of the Economic and Finance Council of Ministers. The main theme of the meeting was the fight against terrorist financing. The council welcomed progress towards achieving agreement with the European Parliament on adopting the second money laundering directive. The directive has subsequently been agreed at conciliation. The council welcomed an EU presidency report on the fight against the financing of terrorism. I stressed the need for concerted international action and co-operation. We also noted a report from the European Commission on the air transport industry. The council approved terms of reference for a European Commission study on globalisation and development, which will report in February 2002 ahead of the UN Financing for Development Conference. The commission introduced its second report on the introduction of euro notes and coins and the council adopted a statement for reporting to the Ghent European Council. Finance Ministers noted the commission's draft employment package for 2001-02, which will be approved at the Laeken European Council. The package reviews member states' employment policies and proposes guidelines and recommendations for taking these policies forward. The presidency report on progress on the draft directive on occupational pension schemes was noted by the council. There was also a preliminary discussion of the joint report on pensions, which is being prepared for approval at the European Council in Barcelona, with a progress report to be considered at the European Council in Laeken. No votes were taken at the meeting. Following the ECOFIN Council, I also attended the joint ECOFIN/JHA Council, with the Minister for Police, Courts and Drugs. The joint council agreed to take forward a further range of measures to combat terrorism, money laundering, economic crime and counterfeiting of the euro. In particular, the Protocol to the 2000 Mutual Legal Assistance Convention was adopted and signed. A copy of the joint council conclusions are being placed in the Library of the House.

Date

24 October 2001

Reference

9364; 373 c260-1W

House

House of Commons

Deposited Paper HDEP 2001/309

Deposited by

Prime Minister

Type

Deposited papers

Date

24 October 2001

Reference

HDEP 2001/309

House

House of Lords

Treasury

Statement on the outcome of the ECOFIN Council held in Brussels on 10th July; what the Government's voting record was at the Council; and if he will make a statement.

Asked by

Jackie Lawrence (Labour)

Answering body

Treasury

Type

Written questions

Status

Answered

Tabled on

18 July 2001

For answer on

19 July 2001

Answered on

19 July 2001

Mrs. Lawrence: To ask the Chancellor of the Exchequer what the outcome was of the ECOFIN Council held in Brussels on 10 July; what the Government's voting record was at the Council; and if he will make a statement. [6348] Mr. Gordon Brown: The Economic Secretary to the Treasury and I attended the meeting of the Economic and Finance Council of Ministers. The Presidency set out its work programme and stressed the importance it attached to economic policy co-ordination, the introduction of euro notes and coins, and structural reform. I made a strong appeal for the EU to be outward-looking and reformist: the priority must be to step up the momentum of structural economic reform in product, capital and labour markets rather than, for example tax harmonisation or a new eurotax. I called for progress in areas such as R&D spending, community patent, and launching a new trade round. I also called on the EU to maximise the impact of its development programmes, and emphasised the importance of the Global Health Fund. The Council discussed taking forward the mandates from the Gothenburg European Council. The Chair of the Economic Policy Committee set out how the EPC and other committees would take on relevant aspects of the work regarding pension reform and sustainable development. ECOFIN endorsed the Economic and Financial Committee's report and revised Code of Conduct on the assessment of Stability and Convergence Programmes. The Commission presented its Communication on future tax policy. No conclusions were drawn, but I stated that ECOFIN's priorities should be completing the Tax Package involving exchange of information on savings income and reaching an appropriate long-term solution to VAT on e-commerce; and made clear that fair tax competition should be encouraged. ECOFIN adopted a timetable for the Tax Package. No votes were taken in the course of the meeting.

Date

19 July 2001

Reference

6348; 372 c383-4W

House

House of Commons

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