ECOFIN

George Osborne Excerpts

Tuesday 11th March 2014 Written Statements

[The Chancellor of the Exchequer (Mr George Osborne)]

A meeting of the Economic and Financial Affairs Council will be held in Brussels on 11 March 2014. The following items are on the agenda to be discussed.

Follow-up to the G20 meeting of Finance Ministers and governors

The presidency and the Commission will debrief the Council on the main outcomes of the G20 Finance Ministers and central bank governors’ meeting in Sydney. The Government are supportive of the Australian G20 agenda, particularly the focus on strong, sustainable and balanced growth.

Preparation of the European Council on 20-21 March 2014—economic elements of the EU 2030 energy and climate framework

Council will have an exchange of views on economic elements of the EU 2030 energy and climate framework, with a view to input to the March European Council. The Government support the EU 2030 framework, which should provide certainty for investors and support the EU’s cost-effective transition to a low-carbon economy.

Savings taxation

Council will seek to adopt the amended savings taxation directive, as requested by the European Council in December 2013. The Government continue to support the adoption of the amended savings directive as a means of advancing the automatic exchange of information agenda.

Current legislative proposals

The presidency will provide information on the ongoing work on financial services dossiers.

Single resolution mechanism

The Council will examine the state of play and may revise the mandate for the presidency to finalise negotiations with the European Parliament. The Government welcome the progress on this file since general approach was reached at ECOFIN in December 2013, and will be ensuring that it fully respects the unity and integrity of the single market.