My right honourable friend the Chancellor of the Exchequer (Alistair Darling) has made the following Written Ministerial Statement.

The ECOFIN Council met informally on Thursday 18 December 2008 in Paris. The Financial Secretary to the Treasury represented the UK.

Ministers discussed non-co-operative financial jurisdictions, the IMF's resources, and the setting up of an early warning system for financial risks at an international level. They also discussed taking forwards work at EU level in response to the action plan agreed by leaders at the Washington summit on 15 November.

Ministers asked the Financial Stability Forum to identify jurisdictions believed to be acting non-co-operatively in the financial sector. This will link with the European Commission's presentation of an action plan at the beginning of 2009 in this area.

They also committed to reviewing all options to enable the IMF to have adequate resources to continue playing a stabilising role in the financial system. In order to detect macroeconomic and financial risks within the global financial system, ECOFIN mandated its experts to identify means more effectively to evaluate the full extent of risks and strengthen collaboration between the IMF and the FSF.

ECOFIN will return to these issues under the Czech presidency of the EU in 2009.

My right honourable friend the Chancellor of the Exchequer (Alistair Darling) has made the following Written Ministerial Statement.

The Economic and Financial Affairs Council will be held in Brussels on 20 January 2009. The following items are on the agenda:

Presidency work programme

The Czech presidency will present its ECOFIN work programme for the first half of 2009.

Follow-up to the December European Council: impact on council work

The presidency will take stock of the work arising from the European economic recovery plan (EERP) agreed by the December European Council. The presidency plans to outline the next steps for two particular issues. The first is reduced rates of VAT, following discussions under the French presidency. The second is how the EU Budget can best support infrastructure and energy efficiency projects. On both of these issues, the Government look forward to working with the Czech presidency to take work forwards.

Economic and budgetary policy strategy for 2009, including economic and financial situation and implementation of European economic recovery plan

Ministers will exchange views, in the light of the economic situation and the EERP, on the economic and budgetary policy messages for ECOFIN work in 2009. This will include discussion of the impact of fiscal stimulus packages on budgetary rules under the stability and growth pact. The presidency will use the messages at this ECOFIN to inform the discussions at the spring European Council in March.

Introduction of the euro in Slovakia

The European Commission and the representative of Slovakia will present a first assessment of the introduction of the single currency in Slovakia on 1 January 2009.

Western Balkans investment framework

The council will hear a report on progress on the establishment of the western Balkans investment framework by 2010.