§ Mr. HoodTo ask the Chancellor of the Exchequer what was the outcome of the ECOFIN Council held in Brussels on 15 March; and if he will make a statement. [77267]
§ Ms HewittThe Chancellor and I attended the Economic and Financial Council—ECOFIN—of the European Union in Brussels on 15 March 1999.
768WThere was a discussion of both expenditure and resources under Agenda 2000, which led to Presidency conclusions. These noted that while Ministers favoured the maintenance of the compromise package for agriculture, there was "broad support" for measures to reduce its budgetary cost.
The Commission and the Chairman of the Economic and Finance Committee presented draft Opinions on the Stability programmes of Spain, Germany, Belgium, France and Luxembourg. The Council adopted the Opinions on each.
There was an orientation debate on the structural aspects of the Broad Economic Policy Guidelines, based on preparatory reports by the Commission and the Economic Policy Committee. These analyse Member States' assessments of their product, capital and labour markets which were produced in response to a request by the Cardiff European Council
The President of the Court of Auditors, Mr. Jan Karlsson, introduced the report of the Court of Auditors for 1997. The Council adopted a recommendation for the discharge of the 1997 Budget.
The Council adopted conclusions calling for a strengthening of the fight against fraud.
The Commission presented its Communication to the Council on Duty Free in response to a remit from Vienna European Council which was published very recently. No decision was taken.
The Council noted an interim report by the Presidency of discussions of the draft directive on the taxation of energy products and invited the Committee of Permanent Representatives to continue its work.
The Commission presented a proposal for an optional, experimental and time limited reduced rate of VAT on labour intensive services, in response to a request from the Vienna European Council.