The Financial Secretary to the Treasury (Mr David Gauke)
A meeting of the Economic and Financial Affairs Council was held in Brussels on 25 May 2016. EU Finance Ministers discussed the following items:
Anti-tax avoidance package
Ministers held an exchange of views on a compromise text relating to the anti-tax avoidance directive. Ministers agreed that this file would return to ECOFIN in June for further discussion and possible agreement.
Current legislative proposals
The presidency updated the Council on the state of play of financial services dossiers.
State of play of the banking union
The Commission gave an 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.
VAT action plan
The Council held an exchange of views and agreed Council conclusions relating to the Commission’s VAT action plan, published 7 April, and a European Court of Auditors special report.
European semester
Following preparation by the Economic and Financial Committee, the Council adopted conclusions on the 2016 in-depth reviews of macroeconomic imbalances and the implementation of the 2015 country specific recommendations.
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