17 Amendments of Jessica POLFJÄRD related to 2023/0137(CNS)
Amendment 70 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 1 – paragraph 2 – point b
Article 1 – paragraph 2 – point b
(b) ‘net expenditure’ means all government expenditure net of interest expenditure, discretionary revenue measures and other budgetary variables outside the control of the government, as defined in Annex II, point (a) of Regulation (EU) of the European Parliament and of the Council [on the preventive arm]*, cyclical unemployment expenditure and expenditure on programmes of the Union fully matched by Union funds revenue;
Amendment 91 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 1a
Article 2 – paragraph 1a
1a. When it exceeds the reference value, the ratio of the government debt to gross domestic product (GDP) shall be considered sufficiently diminishing and approaching the reference value at a satisfactory pace in accordance with Article 126(2), point (b), TFEU if the Member State concerned respects its net expenditure path and the control account does not exceed the threshold set in Article 21 of the Regulation (EU) [on the preventive arm].
Amendment 108 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 1
Article 2 – paragraph 3 – subparagraph 1
The Commission, when preparing a report under Article 126(3) TFEU, shall take into account as a key relevant factor the degree of debt challenges in the Member State concerned. In particular, where the Member State faces substantial public debt challenges according to the most recent Debt Sustainability Monitor, it shall be considered athe key factor leading to the opening of an excessive deficit procedure as a rul. When preparing a report under Article 126(3) TFEU the Commission shall take into account the European Fiscal Board’s report on the assessment of an excessive deficit in the particular Member State.
Amendment 125 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 3 – point b
Article 2 – paragraph 3 – subparagraph 3 – point b
(b) the developments in the medium- term budgetary positions, including, in particular, the size of the actual deviation from the net expenditure path, in annual and cumulative terms as measured by the control account, and the extent to which the deviation is due to a severe economic downturn in the euro area or in the Union as a whole or to exceptional circumstances outside the control of the government with a major impact on the public finances of the Member State concerned in accordance with Articles 24 and 25 of Regulation (EU) [on the preventive arm]. Where relevant, the deviation compared to the technical trajectory shall also be taken into account when considering the size of the deviation; , in particular if the balance of control account exceeds 0.3% of GDP in accordance with Article 21 of the Regulation (EU) [on the preventive arm]. Where relevant, the deviation compared to the technical trajectory shall also be taken into account when considering the size of the deviation. To safeguard the counter cyclical properties of the expenditure path, higher than anticipated economic growth, lower than expected interest expenditure, any expenditure and revenue windfalls or favourable stock-flow adjustments in the government debt ratio, relative to the forecasts underlying the net expenditure path, shall not be taken into account as relevant factors when assessing the existence of an excessive deficit based on deviations from the net expenditure path in accordance with paragraph 1a;
Amendment 140 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 3 – point d
Article 2 – paragraph 3 – subparagraph 3 – point d
(d) the implementation of reforms and investments including, in particular policies to prevent and correct excessive macroeconomic imbalances and policies to implement the common growth and employment strategy of the Union including those supported by NextGenerationEU, and the overall quality of public finances, in particular the effectiveness of national budgetary frameworks. Non- implementation of reforms and investments will also be taken into account.
Amendment 144 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 3 – point d a (new)
Article 2 – paragraph 3 – subparagraph 3 – point d a (new)
(da) Where applicable, temporary above average government investment in defence compared to the average over the four-year period before the plan.
Amendment 151 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 4
Article 2 – paragraph 3 – subparagraph 4
The Commission shall give due and express consideration to any other factors which, in the opinion of the Member State concerned, are relevant in order to comprehensively assess compliance with deficit and debt criteria and which the Member State has put forward to the Council and the Commission. In that context, particular consideration shall be given to financial contributions to fostering international solidarity and achieving the policy goals of the Union. The opinion submitted to the Commission by the Member State concerned shall include the opinion of its national independent fiscal institution on relevant factorsand the EFB.
Amendment 157 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 4 – subparagraph 1
Article 2 – paragraph 4 – subparagraph 1
The Council and the Commission shall make a balanced overall assessment of all the relevant factors, specifically, the extent to which they affect the assessment of compliance with the deficit and/or the debt criteria as aggravating or mitigating factors. The assessment will clearly specify which factors are deemed aggravating or mitigating and where relevant clearly specify the differences in the weight attributed to each relevant factor. However, those factors shall be taken into account in the steps leading to the decision on the existence of an excessive deficit when assessing compliance on the basis of the debt criterion only if the double condition of the overarching principle — that, before these relevant factors are taken into account, the general government debt remains close to the reference value of 60% of GDP and the deviation from the expenditure path set out by the Council is limited - is fully met.
Amendment 164 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 4 – subparagraph 3
Article 2 – paragraph 4 – subparagraph 3
Amendment 180 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EC) No 1467/97
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Within two weeks of the adoption by the Commission of a report issued in accordance with Article 126(3) TFEU, the European Fiscal Board shall formulate an opinion as advice to the Commission, the Economic and Financial Committee and the Council. The opinion of the European Fiscal Board shall be made public. Within four weeks of the adoption by the Commission of a report issued in accordance with Article 126(3) TFEU, the Economic and Financial Committee shall formulate an opinion in accordance with Article 126(4) TFEU. The opinion of the Economic and Financial Committee shall be made public.
Amendment 188 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EC) No 1467/97
Article 3 – paragraph 4 – subparagraph 1
Article 3 – paragraph 4 – subparagraph 1
The Council recommendation made in accordance with Article 126(7) TFEU shall establish a maximum deadline of six months for effective action to be taken by the Member State concerned. When warranted by the seriousness of the situation, the deadline for effective action may be three months. The Council recommendation shall also establish a deadline for the correction of the excessive deficit. In its recommendation, the Council shall also request that the Member State implements a corrective net expenditure path, which ensures that the general government deficit remains or is brought and maintained below the reference value and ensures that the value of the control account is brought to zero within the deadline set in the recommendation. For the years when the general government deficit is expected to exceed the reference value, the corrective net expenditure path shall be consistent with a minimum annual adjustment of at least 0,5% of GDP in the structural primary balance as a benchmark.
Amendment 203 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EC) No 1467/97
Article 3 – paragraph 6
Article 3 – paragraph 6
6. Where effective action has been taken in compliance with a recommendation under Article 126(7) TFEU or whereand where Council has established the existence of a severe economic downturn in the euro area or in the Union as a whole in accordance with Article 24 of Regulation (EU) [on the preventive arm] or exceptional circumstances outside the control of the government with a major impact on the public finances of the Member State concerned in accordance with Article 25 of Regulation (EU) [on the preventive arm], including on the respect of the corrective net expenditure path recommended by the Council pursuant to paragraph 4 of this Article, occur after the adoption of that recommendation, the Council may decide, on a recommendation from the Commission, to adopt a revised recommendation under Article 126(7) TFEU. The revised recommendation, taking into account the relevant factors referred to in Article 2(3) of this Regulation may, in particular, extend the deadline for the correction of the excessive deficit by one year as a rule. In case the Council has established the existence of a severe economic downturn in the euro area or in the Union as a whole in accordance with Article 24 of Regulation (EU) [on the preventive arm], the Council may also decide, on a recommendation from the Commission, to adopt a revised recommendation under Article 126(7) TFEU provided that this does not endanger fiscal sustainability in the medium term. The revised recommendation may, in particular, extend the deadline for the correction of the excessive deficit by one year as a rule.;
Amendment 217 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point a
Article 1 – paragraph 1 – point 4 – point a
Regulation (EC) No 1467/97
Article 5 – paragraph 1 – subparagraph 1
Article 5 – paragraph 1 – subparagraph 1
Any Council decision to give notice to the participating Member State concerned to take measures for the deficit reduction in accordance with Article 126(9) TFEU shall be taken within two months of the Council decision under Article 126(8) TFEU establishing that no effective action has been taken. In the notice, the Council shall request that the Member State implements a corrective net expenditure path which ensures that the general government deficit remains or is brought and maintained below the reference value and ensures that the value of the control account is brought to zero within the deadline set in the notice. For the years where the general government deficit is expected to exceed the reference value, the corrective net expenditure path shall be consistent with a minimum annual adjustment of at least 0,5% of GDP as a benchmarkin the structural primary balance as a benchmark. Any potential exclusions from the net expenditure definition regarding to expenditure on co- financing of programmes financed by the Union or costs related to the borrowing of funds for the loans related to the Recovery and Resilience Facility shall not apply to the calculations regarding the 0.5% annual adjustment above.
Amendment 229 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point b
Article 1 – paragraph 1 – point 4 – point b
Regulation (EC) No 1467/97
Article 5 – paragraph 2
Article 5 – paragraph 2
2. Where effective action has been taken in compliance with a notice under Article 126(9) TFEU or whereand where Council has established the existence of a severe economic downturn in the euro area or in the Union as a whole in accordance with Article 24 of Regulation (EU) [on the preventive arm] or exceptional circumstances outside the control of the government with a major impact on the public finances of the Member State concerned, in accordance with Article 25 of Regulation (EU) [on the preventive arm], or unexpected adverse economic events with major unfavourable consequences for government finances including on the respect of the corrective net expenditure path referred to in paragraph 1 of this Article, occur after the adoption of that notice, the Council may decide, on a recommendation from the Commission, to adopt a revised notice under Article 126(9) TFEU. The revised notice, taking into account the relevant factors referred to in Article 2(3) of this Regulation may, in particular, extend the deadline for the correction of the excessive deficit by one year as a rule. In case the Council has established the existence of a severe economic downturn in the euro area or in the Union as a whole in accordance with Article 24 of Regulation (EU) [on the preventive arm], the Council may also decide, on a recommendation from the Commission, to adopt a revised notice under Article 126(9) TFEU, on condition that it does not endanger fiscal sustainability in the medium term. The revised notice may, in particular, extend the deadline for the correction of the excessive deficit by one year as a rule.;
Amendment 252 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point a
Article 1 – paragraph 1 – point 9 – point a
Regulation (EC) No 1467/97
Article 10a – paragraph 1
Article 10a – paragraph 1
1. The Commission shall ensure a permanent dialogue with authorities of the Member States in accordance with the objectives of this Regulation. To that end, the Commission shall, in particular, carry out missions for the purpose of the assessment of the actual economic situation in the Member State and the identification of any risks or difficulties in complying with the objectives of this Regulation and allow an exchange with other relevant stakeholders, including the national independent fiscal institutions. and the EFB;
Amendment 262 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EC) No 1467/97
Article 12 – paragraph 1
Article 12 – paragraph 1
1. The amount of the fine shall amount to up to 0,05% of GDP as a general rule for a 6- month period and be paid every 6 months until the Council assesses that the Member State concerned has taken effective action in response to the notice issued under Article 126(9) TFEU. The amount of each individual 6-month fine could exceed the general rule in case the lack of effective action causes financial stability risks for the Member State or to the other Member States through spill-over effects. Individual 6- month fines cannot exceed 0.2% of GDP.
Amendment 266 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EC) No 1467/97
Article 12 – paragraph 3
Article 12 – paragraph 3