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EU: Economic and Financial Affairs Council

Volume 687: debated on Thursday 7 December 2006

My honourable friend the Economic Secretary (Ed Balls) has made the following Written Ministerial Statement.

On 21 November 2006, I represented the UK at the Budget Economic and Financial Affairs Council (ECOFIN). Finance Ministers agreed to adopt preliminary draft amending budget No. 6 to the 2006 budget, thus amending the 2006 budget to reflect latest implementation capacity. Finance Ministers agreed to adopt amending letters 2 and 3 to the preliminary draft budget for 2007, which reflected latest information on agricultural prices and other developments. The council reached agreement in second reading on the EU's draft general budget for 2007, subject to formal confirmation at a forthcoming council. It requested the permanent representatives committee to continue negotiations on points that remain open between the Council and the European Parliament following a conciliation meeting with a parliamentary delegation.