40 Amendments of Tom VANDENKENDELAERE related to 2018/2033(INI)
Amendment 13 #
Motion for a resolution
Recital A
Recital A
A. whereas, according to the Commission’'s f2018 Spring Economic Forecasts, the GDP growth rate for the euro area was 2.4 % in 2017 and will dip slightly to 2.3 % in 2018 and to 2 % in 2019; whereas economic growth is still fragile and is expected to slow down in the face of many challenges such as higher oil pricesEuropean economy grew at its fastest rate in 10 years in 2017; whereas for the first time since 2007, all Member States saw their economies expand; whereas this performance was supported by high levels of confidence, increased support from a synchronised global expansion, low financing costs, improving private balance sheets and brightening labour market conditions; whereas the GDP growth rate for the euro area was 2.4 % in 2017 and will dip slightly to 2.3 % in 2018 and to 2 % in 2019;
Amendment 20 #
Motion for a resolution
Recital A a (new)
Recital A a (new)
Aa. whereas according to the Commission’s 2018 Spring Economic Forecast, growth will continue at a robust but slightly slower pace, as global financial market volatility and trade protectionism increasingly pose risks to the economic expansion;
Amendment 32 #
Motion for a resolution
Recital C
Recital C
C. whereas Europe still faces a hugen investment deficitgap, even though it has benefitted from exceptionally low interest rates for years and financing conditions remain very favourable;
Amendment 39 #
Ca. whereas according to the Commission's 2018 Ageing Report, overall in the EU, the total cost of ageing is expected to increase by 1.7 percentage points to 26.7% of GDP between 2016 and 2070;
Amendment 41 #
Motion for a resolution
Recital C b (new)
Recital C b (new)
Cb. whereas the current economic environment provides a favourable window of opportunity to step up reform implementation; whereas the overall implementation of recommendations by EU countries has advanced slowly in the last few years, in particular when it comes to recommendations addressed to countries with excessive macroeconomic imbalances;
Amendment 48 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Takes note ofWelcomes the Commission’s 2018 country-specific recommendations (CSR);
Amendment 58 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Reiterates the urgency of carrying on the fight against the inequalities that hamper economic growthimplementing these country-specific recommendations in order to improve the functioning of the European Semester process and thereby ensure sound fiscal policies, structural reforms to create more jobs and sustainable growth, and boost investment;
Amendment 64 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Recalls the Commission's 2018 Ageing Report showing that fiscal cost linked to pensions, health care and long- term are expected to rise over the coming decades, as Europe’s population continues to age significantly;
Amendment 73 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Considers that responsible growth- orientated fiscal policies are needed at the European level, alongside an appropriate monetary policy conducted independently by the ECB, in order to strengthen the European economy;
Amendment 76 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Recalls that ageing societies and other demographic developments put a massive burden on the sustainability of public finances; therefore, urges Member States to take responsibility towards future generations and implement the balanced budget rule in their own national legal order as set out by the Fiscal Compact;
Amendment 80 #
Motion for a resolution
Paragraph 4
Paragraph 4
4. Supports flexibility in the implementation of the Stability and Growth Pact as proposed by the Commission in 2015; considers that much more flexibility is required to boost investment and growth in the EU; calls, therefore, for a reform of the Stability and Growth Pact and the introduction of an aggregate euro area fiscal stanceCalls to improve the enforcement of the Stability and Growth Pact (SGP) with a focus on debt reduction, in order to safeguard responsible public finances; supports the modulation of budgetary adjustment over the economic cycle as proposed by the Commission in 2015 in its Communication on flexibility within the existing rules of the SGP; considers that larger fiscal efforts are required for Member States in economic good times and/or with high levels of public debt, while Member States in economic bad times and with low levels of public debt might rely on fiscal expansion; flexibility as built into the existing SGP rules should strike a good balance between the objective of ensuring prudent fiscal policy and stabilising the economy;
Amendment 92 #
Motion for a resolution
Paragraph 4 a (new)
Paragraph 4 a (new)
4a. Calls for a reform of the Stability and Growth Pact, allowing Member States to replace gross investments with the depreciation of the investments in their overall balance calculation, as is the case in the accounting of private companies, and which would permit Member States with limited fiscal space to still execute important future-oriented infrastructure projects;
Amendment 100 #
4b. Supports the recommendation by the independent European Fiscal Board to introduce a somewhat restrictive aggregate euro area fiscal stance in 2019;
Amendment 102 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Takes the view that the development ofnote of the new budgetary tools aimed at stabilisation and convergence in the euro area would be extremely, as proposed by the Commission, which would be important for the economic governance of the Eeurozone area in order to avoid, as far as possible, the re- emergence of events already experienced during the years of the financial crisicomplement the euro area’s single monetary policy; highlights that access to central budgetary tools should be conditional on compliance with fiscal rules;
Amendment 117 #
Motion for a resolution
Paragraph 6
Paragraph 6
Amendment 123 #
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Recalls that current implementation levels of the country- specific recommendations are too low; believes that the focus of the European Semester should therefore be on national ownership and implementation, rather than adding policy objectives to the European Semester cycle; believes that more national ownership through national and regional parliaments debating country reports and country- specific recommendations would lead to better implementation of country-specific recommendations;
Amendment 131 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Recalls the importance of equal access to quality public services endowed with sufficient resources;
Amendment 137 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Insists on bringing expenditure on R&D closer to the EU2020 targets; calls on the Member States to set in place proper policies, and to provide investment to ensure equal access to lifelong education and training; recalls that only limited progress has been made in a majority of the Member States that received a recommendation on education reforms in 2017;
Amendment 141 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Recalls the importance of efficient regulation of the banking and financial sectors to forestall any new crises; welcomes the European Council agreement to a common backstop for the Single Resolution Fund; calls for the step-by-step completion of the Banking Union, including a credible European deposit-insurance scheme; highlights that risk-sharing should go hand-in-hand with risk-reduction, especially reduction of non-performing loans and weakening of the doom-loop between banks and sovereigns;
Amendment 151 #
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Highlights the urgent need for a fully-fledged Capital Markets Union, as financial markets could provide for appropriate private risk-sharing and absorption capacities to counter future external shocks; thereby urges both the Commission and the Member States to move forward with the completion of the Capital Markets Union;
Amendment 158 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Recalls that the fight against tax fraud, tax avoidance, tax evasion and aggressive tax planning strategies isare essential to ensure the fair treatment of taxpayers, safeguard public finances, preserve social cohesion and fight inequalities; unctioning of the social market economy, the fair treatment of taxpayers, collection of much necessary budgetary revenues, preserve social cohesion and fight inequalities, among many others; recalls the important role the OECD is playing in this regard;
Amendment 171 #
Motion for a resolution
Paragraph 11
Paragraph 11
11. Welcomes the Commission recommendation to review the tax systems of a number of Member States which are exploited by multinationals engaged in aggressive tax planning; insists on the need to implemenwith this regard urges Member States to effectively transpose Directives (EU) 2016/1164 laying down rules against tax avoidance practices that directly affect the functioning of the internal market (ATAD) and Directive (EU) 2016/1164 as regards hybrid mismatches with third countries (ATAD 2), insists on the need to adopt an ambitious pCBCR (public country-by-country reporting) as adopted in the negotiating mandate of the EP and CCCTB (common consolidated corporate tax base) as suggested by EP reports;
Amendment 184 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Recalls the need to implement the recommendations of the TAXE, TAXE2, Panama Papers inquiry committee of inquiry; welcomes the legislative proposals already put forward by the Commission implementing these recommendations;
Amendment 196 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Encourages stronger coordination and harmonisation of taxation with the objective of reducing the differences among Member States overof digital companies, thus making any possible company relocation unattractive; calls that the first best solution would be a global solution embedded in the OECD framework; nonetheless, due to lack of common understanding at ten-year period, thus making any possible company relocation unattractivehe OECD level, welcomes the Commission’s efforts to take the lead in international fora;
Amendment 201 #
Motion for a resolution
Paragraph 13 a (new)
Paragraph 13 a (new)
13a. Calls for a shift from taxation on labour to taxation on capital and green taxation; the latter could be used as a new real own resource for the EU budget, replacing national contributions;
Amendment 205 #
Motion for a resolution
Paragraph 14
Paragraph 14
14. Welcomes the Council recommendation and the Commission’s efforts to encourage Members States with large current account surpluses to promote faster wage growth, strengthen investment and thus foster economic expansion; highlights the fact that real wage growth has, in recent times, lagged behinddeficits or high external debt to aim at containing growth in unit labour costs and seek to improve their competitiveness; and to encourage Members States with large current account surpluses to promote appropriate wage growth in line with productivity growth, while improvements have occurred in the labour market; stresses, against this background, that there could be room for wage increases in certain sectors and areas to ensure good standards of living, taking ist respecting the role of social partners, strengthen investmento account the need to tackle inequalities and boost growthnd thus foster economic expansion;
Amendment 229 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Notes with concern the recent rise in oil prices which generally weakens growth and raises inflation; sStresses that, rather than relying on seasonal factors for its recovery, the only way to make the European economy an area of prosperity ist is essential to encourage public and private investment and promote domestic demandthe implementation of structural reforms;
Amendment 235 #
Motion for a resolution
Paragraph 16
Paragraph 16
Amendment 247 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Recalls the need for stronger surveillance of the employment and sociallabour market situation in Europe and appropriate and constant follow-up at every step of the European Semester in order to boost quality job creation and thus achieve smart, sustainable and inclusive growth; underlines that digitalisation, globalisation and technological change are radically transforming our labour markets, with for example more transitions between employment forms and statuses; thereby stresses the importance of dynamic labour markets with accessible social security systems, able to respond to these new labour market realities;
Amendment 259 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Shares the Commission’s concerns regarding developments in the housing market in some Member States; stresses that rising interest rates and housing prices are having an impact on household private debt; underlines that thisprivate debt plays a significant role in the financial stability of the euro area; recalls on the Commission to take initiatives in this area in line with recommendation 19 of the social pillarneed for appropriate macro prudential supervision;
Amendment 267 #
Motion for a resolution
Subheading 3
Subheading 3
Investments and cohesion fund
Amendment 271 #
Motion for a resolution
Paragraph 20
Paragraph 20
Amendment 278 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. RegretWelcomes the fact that the Commission makes part of the allocation of European funds conditional on the European Semester and economic governance as the implementation of CSRs is key to the proper functioning of the European Semester and the monetary union;
Amendment 284 #
Motion for a resolution
Paragraph 22
Paragraph 22
Amendment 294 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Warns that the longer the current savings-oriented policy – primarily focused on making spending cuts – continues without an effective investment plan to generate revenue through growth, social cohesion and solidarity, the clearer it will become that Europe’s economic integration and prosperity is at risk from growing social inequalitieselcomes the Commission’s policy mix of investments, structural reforms and responsible public finances, presented as a way to further promote higher growth levels and to strengthen upward convergence;
Amendment 303 #
Motion for a resolution
Paragraph 24
Paragraph 24
24. Takes note ofWelcomes the proposed InvestEU programme which focuses on four key priorities for the EU (sustainable infrastructure; research, innovation and digitisation; small and medium-sized businesses; and social investment); requests that the focus of the InvestEU programme be placed on efficient resources and decarbonisation projects, and stresses the need to guarantee a more balanced budget allocation among Member States and regions;
Amendment 314 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Recalls that the completion of the EMU requires strong political commitment, efficient governance based on the Community method and democratic accountability, and better use of the available financial resources;and democratic accountability,
Amendment 317 #
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25a. Underlines the need for a stronger focus on the composition of budgets and efficiency of public spending to deliver better on key policy priorities of the EU;
Amendment 318 #
Motion for a resolution
Paragraph 25 b (new)
Paragraph 25 b (new)
25b. Welcomes the increasing practice of spending reviews, and further encourages Member States to critically assess the quality of their budgets; points out there is significant room to improve the way in which these spending reviews are conducted and, more importantly, their transformative effect on the spending side of public finances;
Amendment 322 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. Underlines the need to strike the right balance between fiscal responsibility and solidarity; is concerned by the lack of ambition in determining the solidarity instruments needed for the sustainability of the EMU;