§ Mr. HoodTo ask the Chancellor of the Exchequer what the outcome was of the ECOFIN Council held in Brussels on 19 January; and if he will make a statement. [147159]
§ Miss Melanie JohnsonThe Chancellor attended the meeting of the Economic and Finance Council of Ministers.
In open debate, the Presidency set out its work programme. The Presidency stressed the priority it attached to achieving the Lisbon goals on employment and said it wanted ECOFIN to play a key role in preparing for enlargement. There was broad support for its priorities, particularly on continued labour market reform.
43WThe Chancellor made a strong appeal for completion of the single market, investment in research and development and trade liberalisation.
The Presidency circulated a new compromise proposal on excise duties and mineral oils. The Council invited Coreper to discuss the specific detail further. The intention is to reach agreement at ECOFIN on 12 February.
The contribution of public finances to growth and employment was discussed on the basis of the Commission's Communication. A joint Council-Commission report will be submitted to the Stockholm European Council in March. A draft will be submitted to ECOFIN for agreement on 12 March.
The Council examined and agreed conclusions on Sweden's Convergence Report.
The Economic and Finance Committee (EFC) presented a paper reviewing progress on the action plan on EMU statistical requirements. The aim is to improve the quality of statistics and speed up their provision. The Presidency welcomed progress made so far but noted that further work was planned.