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ECOFIN

Volume 557: debated on Tuesday 22 January 2013

A meeting of the Economic and Financial Affairs Council will be held in Brussels on 22 January 2013. We expect the following items to be on the agenda and discussed:

Current legislative proposals

The presidency will give an update on: the fourth capital requirements directive (CRDIV); banking supervision proposals; and the economic governance “two pack” relating to the euro area.

Presentation of the presidency work programme

The presidency will present its six-month work programme for ECOFIN.

Follow-up to the European Council meeting on 13-14 December 2012

Ministers will hold an exchange of views. On economic and financial affairs, the European Council discussed further economic and monetary integration for the euro area, and endorsed new safeguards that will protect the interests of member states outside the euro area.

Annual Growth Survey

Ministers will hold an initial exchange of views on this, ahead of looking to agree Council conclusions at a future ECOFIN.

Communication: an Action Plan to strengthen the fight against tax fraud and tax evasion

There will be a presentation by the Commission. The Government are fully committed to clamping down on those who evade paying tax and welcome Commission consideration of what EU-level actions may be appropriate. While the action plan is not binding, the Government will consider the proposals in further detail and will look to the EU to play a role in helping to take forward the important agenda on combating tax fraud and evasion, supporting work at national and international level.

Financial Transaction Tax (FTT)

The Council is likely to adopt a proposal for a Council decision authorising enhanced co-operation. The UK fully supports those member states who have raised concerns that the European Commission has not provided any analysis of the impacts an enhanced co-operation FTT would have on individual member states, both participants and non-participants.