The First Secretary of State and Chancellor of the Exchequer (Mr George Osborne)
A meeting of the Economic and Financial Affairs Council will be held in Brussels on 12 February 2016. Ministers are due to discuss the following items:
Anti-tax avoidance package
The Commission will present proposals for tackling corporate tax avoidance, including implementing the UK Government’s country by country reporting template for multinationals. This will be followed by an exchange of views. The UK has led the way in the OECD and EU in negotiating and implementing tougher international tax rules and transparency measures.
Current legislative proposals
The presidency will update the Council on the state of play of financial services dossiers.
Implementation of the banking union
The Commission will provide a brief update on several dossiers linked to the banking union: the single resolution fund, the bank recovery and resolution directive and the deposit guarantee scheme directive.
Fight against the financing of terrorism
The Commission will present its action plan to reinforce the European framework in the fight against the financing of terrorism. Following an exchange of views, the Council will adopt conclusions on the new measures.
Preparation of the G20 meeting in Shanghai on 25-27 February 2016
The Council will adopt the EU’s terms of reference ahead of the G20 meeting of Finance Ministers and Central Bank Governors in Shanghai.
Discharge to be given to the Commission in respect of the implementation of the budget for 2014
On the basis of a report from the Court of Auditors, the Council will vote on the discharge to be given to the Commission in respect of the implementation of the EU’s general budget for the financial year 2014.
Budget guidelines for 2017
Council conclusions will be adopted on the EU budget guidelines for 2017. These will inform the Commission of high-level priorities in preparation of the draft budget.
High-level group on own resources
Mario Monti, the chair of the high-level group on own resources, will provide a state of play update on the EU’s financing system.
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