143 Amendments of Gilles BOYER related to 2023/0138(COD)
Amendment 164 #
Proposal for a regulation
Recital 5
Recital 5
(5) The economic governance framework of the Union should be adapted to better take into account the growing heterogeneity of fiscal positions, public debt challenges and other vulnerabilities across Member States. The strong policy response to the COVID-19 pandemic proved highly effective in mitigating the economic and social damage of the crisis, but the crisis resulted in a significant increase in public- and private-sector debt ratios, underscoring the importance of reducing debt ratios to prudent levels in a gradual, sustained and growth-friendly manner and addressing macroeconomic imbalances, while paying due attention to employment and social objectives. At the same time, the economic governance framework of the Union should be adapted to help address the medium- and long-term challenges facing the Union including achieving a fair digital and green transition, including the Climate Law22 , ensuring energy security, open strategic autonomy, addressing demographic change, strengthening social and economic resilience and implementing the European Pillar of Social Rights1a, as well as the the strategic compass for security and defence, all of which requires reforms and sustained high levels of investment in the years to come. _________________ 1a COM(2021) 102 final 22 The European Climate Law sets a Union-wide climate neutrality objective by 2050 and requires Union institutions and Member States to progress in enhancing adaptive capacity, requiring significant public investment to reduce the negative socio-economic impacts of climate change on the EU and its Member States, including negative impacts on growth and fiscal sustainability.
Amendment 176 #
Proposal for a regulation
Recital 6
Recital 6
(6) The economic governance framework of the Union should put debt sustainability and sustainable and inclusive growth, through both reforms and investments, at its core and therefore differentiate between Member States by taking into account their public debt challenges and allowing country-specific fiscal trajectories.
Amendment 195 #
Proposal for a regulation
Recital 9
Recital 9
(9) National medium-term fiscal- structural plans should bring together the fiscal, structural reforms and investment commitments of each Member State and these plans should be the cornerstone of the economic governance framework of the Union. Each Member State should present a medium-term plan that sets out its fiscal trajectory as well as priority strategic public investment and reform commitments that together ensureshould contribute to sustained and gradual debt reduction and sustainable and inclusive growth and resilience, avoiding a pro- cyclical fiscal policy, as well as broader reform and investment commitments, including in relation to the green and digital transitions, social and economic resilience and the implementation of the European Pillar of Social Rights. During the lifetime of the Recovery and Resilience Facility25 , commitments undertaken in the national Recovery and Resilience Plans should be duly taken into account. _________________ 25 Regulation (EU) 2021/241 of the European Parliament and of the Council of 12 February 2021 establishing the Recovery and Resilience Facility (OJ L 57, 18.2.2021, p. 17).
Amendment 196 #
Proposal for a regulation
Recital 9
Recital 9
(9) National medium-term fiscal- structural plans should bring together the fiscal, structural reforms and investment commitments of each Member State and these plans should be the cornerstone of the economic governance framework of the Union. Each Member State should present a medium-term plan that sets out its fiscal trajectory as well as priority public investment and reform commitments that together ensurshould contribute sustained and gradual debt reduction and sustainable and inclusive growth and resilience, avoiding a pro-cyclical fiscal policy, as well as broader reform and investment commitments, including in relation to the green and digital transitions, social and economic resilience and the implementation of the European Pillar of Social Rights, including the related targets on employment, skills and poverty reduction by 2030. During the lifetime of the Recovery and Resilience Facility25 , commitments undertaken in the national Recovery and Resilience Plans should be duly taken into account. _________________ 25 Regulation (EU) 2021/241 of the European Parliament and of the Council of 12 February 2021 establishing the Recovery and Resilience Facility (OJ L 57, 18.2.2021, p. 17).
Amendment 202 #
Proposal for a regulation
Recital 10 a (new)
Recital 10 a (new)
(10 a) Investments have proven to be an essential part of the economic and social recovery after the pandemic, and in response to inflation and the rise of the energy prices. In addition to investments in infrastructure, multiannual social investment in human capital, in particular in education, health and labour market integration, could harness the opportunities for societal and individual growth.
Amendment 212 #
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
Amendment 243 #
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16 a) In the development process of the medium-term fiscal-structural plan, Member States should also consider consulting relevant stakeholders, including local and regional authorities, social partners, civil society organisations, youth organisations.
Amendment 251 #
Proposal for a regulation
Recital 20
Recital 20
(20) The Commission’s assessment of the national medium-term fiscal-structural plans should examine in particular the plausibility of the macroeconomic and fiscal assumptions, to the extent that they depart from those underlying the technical trajectory. In particular, the debt projections at unchanged policy to be included in the plan should be consistent and comparable with the Commission projections.
Amendment 260 #
Proposal for a regulation
Recital 22
Recital 22
(22) To ensure a more gradual debt reduction, the adjustment period can be extended by a maximum of 3 years if the Member State underpins its medium-term fiscal-structural plan with a set of verifiable and time-bound reforms and investment that, taken altogether: are growthresilience-enhancing, support fiscal sustainability, address the common priorities of the Union, address relevant country-specific recommendations addressed to the Member State under the European Semester, and address the country-specific investment priorities without leading to cuts in other nationally financed public investment over the adjustment period in order to ensure a macroeconomic impact of investments and avoid crowding out of other investment priorities.
Amendment 266 #
Proposal for a regulation
Recital 24 a (new)
Recital 24 a (new)
Amendment 274 #
Proposal for a regulation
Recital 27
Recital 27
(27) Independent fiscal institutions have proven their capacity to foster fiscal discipline and strengthen the credibility of Member States’ public finances. In order to enhance national ownership, the role of independent fiscal institutions, traditionally mandated to monitor compliance with the national framework, should be expanded to the economic governance framework of the Unionmaintained and adapted to the medium-term fiscal- structural plans.
Amendment 300 #
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
This Regulation sets out rules ensuring effective coordination of economic policies of the Member States, thereby supporting the achievement of the Union’s objectives for growth andsustainable growth, competitiveness, and quality employment.
Amendment 302 #
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
This Regulation sets out rules ensuring effective coordination of economic policies of the Member States, thereby supporting the achievement of the Union’s objectives for sustainable and inclusive growth and quality employment.
Amendment 313 #
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
It lays down detailed rules concerning the content, submission, assessment and monitoring of national medium-term fiscal- structural plans as part of multilateral budgetary surveillance by the Council and the Commission, with involvement of the European Parliament, so as to promote debt sustainability, strategic reforms and investments, and sustainable and inclusive growth in the Member States and prevent the occurrence of excessive government deficits, by medium-term planning.
Amendment 327 #
(2) ‘net expenditure’ means government expenditure net of interest expenditure, discretionary revenue measures and other budgetary variables outside the control of the government as set out in Annex II, point (a). The government expenditure aggregate should be adjusted by averaging the investment expenditure over seven years;
Amendment 347 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6
Article 2 – paragraph 1 – point 6
(6) ‘annual progress report’ means the document of a Member State reporting on the implementation of the national medium-term fiscal-structural plan, including the net expenditure path, and of the reforms and investment commitments included in its national medium-term fiscal-structural plan;
Amendment 348 #
Proposal for a regulation
Article 2 – paragraph 1 – point 6
Article 2 – paragraph 1 – point 6
(6) ‘annual progress report’ means the document of a Member State reporting on the implementation of the national medium-term fiscal-structural plan, including the net expenditure path, and of the reforms and investment commitments included in its national medium-term fiscal-structural plan;
Amendment 354 #
Proposal for a regulation
Article 2 – paragraph 1 – point 7 a (new)
Article 2 – paragraph 1 – point 7 a (new)
(7 a) ‘planning horizon’ means adjustment period;
Amendment 369 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
In order to ensure closer coordination of economic and employment policies and sustaineable upward convergence of the economic and social performance of the Member States in line with Union common priorities, the Council and the Commission shall conduct multilateral surveillance within the European Semester in accordance with the objectives and requirements set out in the TFEU. Multilateral surveillance shall rely on high quality and independent statistics, produced in accordance with the principles laid down in Regulation (EC) No 223/2009 of the European Parliament and of the Council.
Amendment 387 #
Proposal for a regulation
Article 3 – paragraph 2 – point c
Article 3 – paragraph 2 – point c
(c) the submission, assessment and endorsement of Member States’ medium- term fiscal-structural plans, where appropriate, as well as their monitoring via the annual progress reports;
Amendment 388 #
Proposal for a regulation
Article 3 – paragraph 2 – point c
Article 3 – paragraph 2 – point c
(c) the submission, assessment and endorsement of Member States’ medium- term fiscal-structural plans, where appropriate, as well as their monitoring via the annual progress reports;
Amendment 391 #
Proposal for a regulation
Article 3 – paragraph 2 – point d a (new)
Article 3 – paragraph 2 – point d a (new)
(d a) the surveillance to detect, prevent and correct challenges identified in the social convergence reports under the Social Convergence Framework;
Amendment 396 #
Proposal for a regulation
Article 3 – paragraph 2 – point e a (new)
Article 3 – paragraph 2 – point e a (new)
(e a) the formulation and the surveillance of the implementation recommendations on the common priorities listed in Article 12(1), point (ba), in particular past and current investments and each member states investment gaps associated to those priorities.
Amendment 407 #
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
1. Where necessary, following the assessment pursuant to this Regulation of the medium-term fiscal-structural plans, the annual progress reports and the socio- economic situation of the Member States concerned, the Council shall, on the basis of recommendations from the Commission, address recommendations to those Member States making full use of the legal instruments provided in Articles 121 and 148 TFEU and related secondary legislation. Such recommendations shall identify relevant measures to be taken in case of insufficient progress towards achieving applicable targets in line with Member States' reporting under Article 3.
Amendment 427 #
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
For each Member State having a public debt above the 60% of GDP reference value or a government deficit above the 3% of GDP reference value, the Commission shall put forward, in a report to the Economic and Financial Committee, a technical trajectory for net expenditure after the submission of a proposal by the Member State and the dialogue in accordance with the procedure referred to in Article 7. The technical trajectory for net expenditure shall covering a minimum adjustment period of 4 years of the national medium-term fiscal- structural plan, and its possible extension by a maximum of 3 years pursuant to Article 13. The Commission shall make the report public.
Amendment 435 #
Proposal for a regulation
Article 6
Article 6
Amendment 440 #
Proposal for a regulation
Article 6 – paragraph 1 – point a
Article 6 – paragraph 1 – point a
(a) the publicby the end of the adjustment period, at the latest, the 10-year debt tratio is put or remainjectory in the absence of further budgetary measures is on a plausibly downward path, or stays at prudent levels;
Amendment 449 #
Proposal for a regulation
Article 6 – paragraph 1 – point b
Article 6 – paragraph 1 – point b
(b) the government deficit is brought and maintained below the 3% of GDP reference value in the absence of further budgetary measures over the same 10- year period;
Amendment 459 #
Proposal for a regulation
Article 6 – paragraph 1 – point c
Article 6 – paragraph 1 – point c
Amendment 467 #
Proposal for a regulation
Article 6 – paragraph 1 – point d
Article 6 – paragraph 1 – point d
Amendment 493 #
Proposal for a regulation
Article 6 – paragraph 1 – point e
Article 6 – paragraph 1 – point e
Amendment 508 #
Proposal for a regulation
Article 6 – paragraph 2
Article 6 – paragraph 2
The technical trajectories shall be differentiated for each Member State. The criteria for setting the technical trajectories are set out in Annex I.
Amendment 510 #
Proposal for a regulation
Article 6 a (new)
Article 6 a (new)
Article6a Requirements for setting the technical trajectory When designing the technical trajectory for each Member State, the Commission shall ensure that: (a) by the end of the adjustment period, at the latest, the 10-year debt trajectory in the absence of further budgetary measures is on a credibly downward path or stays at prudent levels; (b) the government deficit is brought and maintained below the 3% of GDP reference value in the absence of further budgetary measures over the same 10- year period; (c) for the years that the Member State concerned is expected to have a deficit above the 3% of GDP reference value, and the excess is not close and temporary, the technical trajectory is also consistent with the benchmark referred to under Article 3 of Regulation (EC) No 1467/97 as amended by Regulation (EU) [on the corrective arm]; (d) the public debt ratio stabilises over the adjustment period and is reduced over the projection period. The Commission will set out the minimum annual average adjustment figure for each Member State within a range of [x] p.p of debt to GDP and [y] p.p of debt to GDP, depending on that Member State's debt levels and sustainability and the business cycle, for the whole projection period. The technical trajectories shall be differentiated for each Member State.
Amendment 514 #
Proposal for a regulation
Article 7 – paragraph 1 – introductory part
Article 7 – paragraph 1 – introductory part
1. By [1 March] of the year [xxxx] in which the Member States have to submit for the first time their medium-term fiscal- structural plans or by [1 March] of the final year covered by the ongoing medium-term fiscal-structural plan or, as appropriate, within 3 weeks from the request of the Member State to submit a new plan, the Commission shall publish:
Amendment 515 #
Proposal for a regulation
Article 7 – paragraph 1 – introductory part
Article 7 – paragraph 1 – introductory part
1. By [1 March] of the year [xxxx] in which the Member States have to submit for the first time their medium-term fiscal- structural plans or, by [1 March] of the last year covered by the ongoing medium-term fiscal-structural plan or as appropriate, within 3 weeks from the request of the Member State to submit a new plan, the Commission shall publish:
Amendment 518 #
Proposal for a regulation
Article 7 – paragraph 1 – point a
Article 7 – paragraph 1 – point a
(a) the underlying medium-term public debt pits macrojection framework and resultonomic forecast and assumptions;
Amendment 520 #
Proposal for a regulation
Article 7 – paragraph 1 – point a
Article 7 – paragraph 1 – point a
(a) the underlying medium-term public debt projection framework, based on the debt sustainability analysis methodology, and results;
Amendment 523 #
Proposal for a regulation
Article 7 – paragraph 1 – point b
Article 7 – paragraph 1 – point b
(b) its macunderlying medium-term public debt projeconomic forecast and assumptiontion framework and results;
Amendment 539 #
Proposal for a regulation
Article 7 – paragraph 2
Article 7 – paragraph 2
2. For Member States having a government deficit below the 3% of GDP reference value and public debt below the 60% of GDP reference value, the Commission shall provide technical information regarding the structural primary balance necessary to ensure that the headline deficit is maintained below the 3% of GDP reference value and the public debt ratio remains below the 60% of GDP reference value, both without any additional policy measures over a 10-year period after the end of the national medium-term fiscal-structural plan.
Amendment 540 #
Proposal for a regulation
Article 7 – paragraph 2
Article 7 – paragraph 2
2. For Member States having a government deficit below the 3% of GDP reference value and public debt below the 60% of GDP reference value, the Commission shall provide technical information regarding the structural primary balance necessary to ensure that the headline deficit is maintained below the 3% of GDP reference value without any additional policy measures over a 10-year period after the end of the national medium-term fiscal-structural plan while taking into account the investment needs of those Member States to deliver on the common European priorities listed in Article 12, point (ba).
Amendment 541 #
Proposal for a regulation
Article 7 – paragraph 3
Article 7 – paragraph 3
Amendment 543 #
Proposal for a regulation
Article 7 – paragraph 3
Article 7 – paragraph 3
3. The Commission shall update the technical trajectories and the quantitative guidance at least once every 4 yearsfor every Member State as referred to in Article 5(1) in time for the submission of the next cycle of medium- term fiscal-structural plans.
Amendment 551 #
Proposal for a regulation
Article 8 – title
Article 8 – title
Assessment of plausibility and debt sustainability
Amendment 583 #
Proposal for a regulation
Article 9 – paragraph 1 a (new)
Article 9 – paragraph 1 a (new)
Amendment 585 #
Proposal for a regulation
Article 9 – paragraph 1 a (new)
Article 9 – paragraph 1 a (new)
Each Member State shall submit to the Council and to the Commission a new national medium-term fiscal-structural plan before end-April of the last year covered by the ongoing medium-term fiscal-structural plan.
Amendment 595 #
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
Prior to the submission of its national medium-term fiscal-structural plan, the Member State concerned shall hold with the Commission a technical dialogue, with the objective of ensuring that the national medium-term fiscal-structural plan complies with Articles 11, 12 and, 14 and, where relevant, Article 143.
Amendment 607 #
Proposal for a regulation
Article 11 – paragraph 1 – subparagraph 1
Article 11 – paragraph 1 – subparagraph 1
The national medium-term fiscal-structural plan shall provide the information listed in Annex II. In particular, it shall present a net expenditure trajectorypath covering a period of at least 4 years, as well as the underlying macroeconomic assumptions and the planned fiscal-structural measures in order to demonstrate compliance with the requirements of Article 12.
Amendment 624 #
Proposal for a regulation
Article 11 – paragraph 2
Article 11 – paragraph 2
2. Where the national-medium-term fiscal-structural plan includes a higher net expenditure trajectory than in the technical trajectory issued by the Commission pursuant to Article 5, the Member State shall provide in its plan sound and verifiable economic arguments explainingduly justify the difference.
Amendment 627 #
Proposal for a regulation
Article 12 – title
Article 12 – title
Requirements of the national medium- term fiscal-structural plans
Amendment 634 #
Proposal for a regulation
Article 12 – paragraph 1 – point a
Article 12 – paragraph 1 – point a
(a) ensure the fiscal adjustment necessary to put or keep public debt on a plauscredibly downward path by the end of the adjustment period at the latest, or remain at prudent levels, and to bring and maintain the government deficit below the 3% of GDP reference value over the medium term;
Amendment 635 #
Proposal for a regulation
Article 12 – paragraph 1 – point a
Article 12 – paragraph 1 – point a
(a) ensure the primary structural fiscal adjustment necessary to put or keep public debt on a plausibly downward path by the end of the adjustment period at the latest, or remain at prudent levels, and to bring and maintain the government deficit below the 3% of GDP reference value over the medium term;
Amendment 637 #
Proposal for a regulation
Article 12 – paragraph 1 – point a a (new)
Article 12 – paragraph 1 – point a a (new)
(a a) assess the national public and private investment gaps to achieve the common priorities of the Union listed in Article 12;
Amendment 638 #
Proposal for a regulation
Article 12 – paragraph 1 – point a a (new)
Article 12 – paragraph 1 – point a a (new)
(a a) assess the national public and private investment gaps to achieve the common priorities of the Union listed in Article 12;
Amendment 652 #
Proposal for a regulation
Article 12 – paragraph 1 – point b
Article 12 – paragraph 1 – point b
(b) explain how it will ensure the delivery of investment and reforms responding to the main challenges identified within the European Semester, in the country-specific recommendations, correct the identified macroeconomic imbalances under the Macroeconomic Imbalances Procedure if applicable, and address the common priorities of the Union referred to in Annex VI of this Regulation, including the European Green Deal, European Pillar of Social Rights and the Digital Decade while being consistent with the updated National Energy and Climate Plans and the National Digital Decade Roadmapthe national investment gap as identified in the national fiscal-structural plans;
Amendment 653 #
Proposal for a regulation
Article 12 – paragraph 1 – point b
Article 12 – paragraph 1 – point b
(b) explain how it will ensure the delivery of investment and reforms responding to the main challenges identified within the European Semester, in the country-specific recommendations, correct the identified macroeconomic imbalances under the Macroeconomic Imbalances Procedure if applicable, and address the common priorities of the Union referred to in Annex VI of this Regulation, including the European Green Deal, European Pillar of Social Rights and the Digital Decade while being consistent with the updated National Energy and Climate Plans and the National Digital Decade Roadmaps;
Amendment 658 #
Proposal for a regulation
Article 12 – paragraph 1 – point b a (new)
Article 12 – paragraph 1 – point b a (new)
(b a) explain the consistency of the plan with the common priorities of the Union, as follows: (a) The European Green Deal, including the objectives of the Regulation 2021/1119 (European Climate Law) and the National Energy and Climate Plans; (b) The European Pillar of Social Rights including the related targets on employment, skills and poverty reduction by 2030; (c) The Digital Decade Policy Programme 2030, and reflected at national level through the National Digital Decade Strategic Roadmaps; (d) A Strategic Compass for Security and Defence - For a European Union that protects its citizens, values and interests and contributes to international peace and security.
Amendment 661 #
Proposal for a regulation
Article 12 – paragraph 1 – point b a (new)
Article 12 – paragraph 1 – point b a (new)
(b a) explain how it will ensure consistency with the updated National Energy and Climate Plans and the National Digital Decade Roadmaps;
Amendment 664 #
Proposal for a regulation
Article 12 – paragraph 1 – point b b (new)
Article 12 – paragraph 1 – point b b (new)
(b b) explain how it will address the common priorities of the Union referred to in Annex VI, including the European Green Deal, European Pillar of Social Rights, including the related targets on employment, skills and poverty reduction by 2030, and the Digital Decade while being consistent with the updated National Energy and Climate Plans and the National Digital Decade Roadmaps. In addition, it shall explain how it will ensure consistency with the broad guidelines for the economic policies of the Member States and with the employment guidelines in accordance with Article 121(2) and Article 148(2) TFEU;
Amendment 665 #
Proposal for a regulation
Article 12 – paragraph 1 – point b b (new)
Article 12 – paragraph 1 – point b b (new)
(b b) quantify the current and planned expenditures, in particular for activities listed in Annex VI of Regulation (EU) 2021/241 for sectors listed in NACE Rev.2 (A*64 aggregation level) and explain their consistency with the reduction of the investment gap referred to in point (aa) within the timeframe of the plan;
Amendment 667 #
Proposal for a regulation
Article 12 – paragraph 1 – point b b (new)
Article 12 – paragraph 1 – point b b (new)
(b b) disclose the change of public debt net of the sum of the cumulative investment undertaken in support of each common priority of the Union referred to in Article 12, point (ba);
Amendment 675 #
Proposal for a regulation
Article 12 – paragraph 1 – point d a (new)
Article 12 – paragraph 1 – point d a (new)
(d a) quantify the current and planned green transition expenditures, in particular for activities listed in Annex VI of Regulation (EU) 2021/241 for sectors listed in NACE Rev.2 (A*64 aggregation level).
Amendment 676 #
Proposal for a regulation
Article 12 – paragraph 1 – point d a (new)
Article 12 – paragraph 1 – point d a (new)
(d a) quantify the current and planned green transition expenditures, in particular for activities listed in Annex VI of Regulation (EU) 2021/241 for sectors listed in NACE Rev.2 (A*64 aggregation level).
Amendment 681 #
Proposal for a regulation
Article 12 – paragraph 1 – point d b (new)
Article 12 – paragraph 1 – point d b (new)
(d b) list the significant investments that support or carry out economic activities that do significant harm to any environmental objective within the meaning of the ‘Do no significant harm’ referred to in Article 17 of Regulation (EU) 2020/852;
Amendment 682 #
Proposal for a regulation
Article 12 – paragraph 1 – point d b (new)
Article 12 – paragraph 1 – point d b (new)
(d b) explain how it will ensure consistency and, where appropriate, complementarity the EU funds, namely cohesion policy funds from which the Member State concerned benefits.
Amendment 697 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 1
Article 13 – paragraph 2 – subparagraph 1
The set of reform and investment commitments underpinning an extension of the adjustment period, shall be commensurate with the degree of public debt challengesnational investment gap as identified in the national fiscal- structural plans referred to in Article 12, point (aa), and challenges to medium- term growth in the Member State concerned.
Amendment 699 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 1
Article 13 – paragraph 2 – subparagraph 1
The set of reform and investment commitments underpinning an extension of the adjustment period, shall be commensurate with the degree of public debt challenges and challenges to medium- term growth in the Member State concerned, including demographic challenges.
Amendment 703 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – introductory part
Article 13 – paragraph 2 – subparagraph 2 – introductory part
The set of reforms and investment commitments shall fulfil, taken altogether, several of the following criteria:
Amendment 706 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point i
Article 13 – paragraph 2 – subparagraph 2 – point i
(i) be growth enhancing; sustainable and growth enhancing while respecting the targets set in Regulation (EU) 2021/1119 (European Climate Law);
Amendment 708 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point i
Article 13 – paragraph 2 – subparagraph 2 – point i
(i) be growth enhancing or improve the resilience of the economy;
Amendment 709 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point i
Article 13 – paragraph 2 – subparagraph 2 – point i
(i) be growth and resilience enhancing;
Amendment 723 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point iii
Article 13 – paragraph 2 – subparagraph 2 – point iii
(iii) address the common priorities of the Union referred to in Annex VIrticle 12, point (ba);
Amendment 733 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point v
Article 13 – paragraph 2 – subparagraph 2 – point v
Amendment 735 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point v
Article 13 – paragraph 2 – subparagraph 2 – point v
Amendment 746 #
Proposal for a regulation
Article 13 – paragraph 3
Article 13 – paragraph 3
3. Each of the reform and investment commitments underpinning an extension of the adjustment period shall be sufficiently detailed, front-loadedistributed proportionally throughout the period covered by the plan and at the latest by the end of the adjustment period, time-bound and verifiable.
Amendment 747 #
Proposal for a regulation
Article 13 – paragraph 3
Article 13 – paragraph 3
3. Each of the reform and investment commitments underpinning an extension of the adjustment period shall be sufficiently detailed, front-loadedistributed proportionally throughout the period covered by the plan and at the latest by the end of the adjustment period, time-bound and verifiable.
Amendment 752 #
Proposal for a regulation
Article 13 – paragraph 4
Article 13 – paragraph 4
4. During the lifetime of the Recovery and Resilience Facility, in accordance with Regulation (EU) 2021/241, commitments included in the approved Recovery and Resilience Plan of the Member State concerned canshall be taken into account for an extension of the adjustment period, as long as they fulfil the requirements laid down in paragraphs 1, 2 and 3 of this Article.
Amendment 753 #
Proposal for a regulation
Article 13 – paragraph 4
Article 13 – paragraph 4
4. During the lifetime of the Recovery and Resilience Facility, in accordance with Regulation (EU) 2021/241, commitments included in the approved Recovery and Resilience Plan of the Member State concerned canshall be taken into account for an extension of the adjustment period.
Amendment 754 #
Proposal for a regulation
Article 13 – paragraph 4 a (new)
Article 13 – paragraph 4 a (new)
4 a. Commitments included in the Partnership Agreement in Multiannual Financial Framework can also be taken into account for an extension of the adjustment period, as long as they fulfil the requirements laid down in paragraphs 1, 2 and 3.
Amendment 771 #
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
1. A Member State may request to submit a revised national medium-term fiscal-structural plan to the Commission before the end of its adjustment periodlast year covered by the ongoing medium-term fiscal-structural plan if there are objective circumstances preventing the implementation of the originalngoing national medium-term fiscal- structural plan or if the submission of a new national medium-term fiscal-structural plan is requested by a new government.
Amendment 772 #
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
1. A Member State may request to submit a revised national medium-term fiscal-structural plan to the Commission no later than six months before the end of its adjustment periodplanning horizon if there are objective circumstances preventing the implementation of the original national medium-term fiscal- structural plan or if the submission of a new national medium-term fiscal-structural plan is requested by a new government.
Amendment 782 #
Proposal for a regulation
Article 14 – paragraph 2
Article 14 – paragraph 2
2. Prior to the submission of the revised national medium-term fiscal- structural plan, the Commission shall put forward, in a report to the Economic and Financial Committee, a new technical trajectory or technical information, where applicable .
Amendment 784 #
Proposal for a regulation
Article 14 – paragraph 3
Article 14 – paragraph 3
3. Taking into account the past adjustment of the Member State concerned or the lack thereof, the new technical trajectory shall not allow backloading of the fiscal adjustment effort and shall not lead to a lower fiscal adjustment efforthe new technical trajectory shall as a rule uphold the ambition of the previous fiscal path.
Amendment 785 #
Proposal for a regulation
Article 14 – paragraph 3
Article 14 – paragraph 3
3. Taking into account the phe new technical trajectory shall, ast adjustment of the Member State concerned rule, uphold the ambition orf the lack thereof, the new technical trajectory shallprevious fiscal path, not allow backloading of the fiscal adjustment effort and shall not lead to a lower fiscal adjustment effort.
Amendment 791 #
Proposal for a regulation
Article 14 – paragraph 5
Article 14 – paragraph 5
5. The Commission shall in particular assess, if applicable, whether any extension of the adjustment period is to continue to apply under the revised national medium- term fiscal- structural plan, taking into account the implementation of thea revised set of reform and investment commitments underpinning the extension under the original plan and the changes in terms of public debt challenges under the revised national medium-term fiscal- structural plan.
Amendment 798 #
Proposal for a regulation
Article 15 – paragraph 1
Article 15 – paragraph 1
1. The Commission shall assess each national medium-term fiscal-structural plan within 2 months of its submission. The Member State concerned and the Commission may agree to extend the period of assessment by a reasonable period if necessary, not exceeding one additional month.
Amendment 810 #
Proposal for a regulation
Article 15 – paragraph 2 – point a
Article 15 – paragraph 2 – point a
(a) whether the national medium-term fiscal-structural plan ensures that public debt is put or kept on a plauscredibly downward path by the end of the adjustment period at the latest, or stays at prudent levels;
Amendment 823 #
Proposal for a regulation
Article 15 – paragraph 2 – point c
Article 15 – paragraph 2 – point c
(c) whether the government deficit is maintained below the 3% of GDP reference value in the absence of further budgetary measures over a period of 10 years after the end of the plan;
Amendment 825 #
Proposal for a regulation
Article 15 – paragraph 2 – point d
Article 15 – paragraph 2 – point d
Amendment 834 #
Proposal for a regulation
Article 15 – paragraph 2 – point e
Article 15 – paragraph 2 – point e
Amendment 842 #
Amendment 854 #
Proposal for a regulation
Article 15 – paragraph 2 – point f
Article 15 – paragraph 2 – point f
(f) for Member States fulfilling the criteria of Article 5(1), whether the public debt ratio at the end of the planning horizon is below the public debt ratio in the year before the start of the technical trajectory.
Amendment 862 #
Proposal for a regulation
Article 15 – paragraph 2 – point f a (new)
Article 15 – paragraph 2 – point f a (new)
(f a) whether the other reform and investment commitments contained in the plan comply with the requirements of Article 12, point (b).
Amendment 872 #
Proposal for a regulation
Article 15 – paragraph 3 – point b
Article 15 – paragraph 3 – point b
Amendment 899 #
Proposal for a regulation
Article 18 – paragraph 1 – introductory part
Article 18 – paragraph 1 – introductory part
The Council shall, on a recommendation from the Commission, recommend to the Member State concerned that the technical trajectory issued by the Commission, in accordance with Article 5, be the net expenditure path of the Member State where:
Amendment 904 #
Proposal for a regulation
Article 18 – paragraph 1 – point b
Article 18 – paragraph 1 – point b
(b) the Council considers that the revised national medium-term fiscal- structural plan does not comply with the requirements set out in Article 15(2) and (3), point (a)2;
Amendment 907 #
Proposal for a regulation
Article 18 – paragraph 1 – point c
Article 18 – paragraph 1 – point c
(c) the Member State fails to submit an initial national medium term fiscal- structural plan or a new national medium- term fiscal-structural plan at the end of the periodfinal year covered by the previous national medium-term fiscal- structural plan.
Amendment 908 #
Proposal for a regulation
Article 18 – paragraph 1 – point c
Article 18 – paragraph 1 – point c
(c) the Member State fails to submit a new national medium-term fiscal-structural plan at the end of the periodlast year covered by the previous national medium-term fiscal- structural plan.
Amendment 912 #
Proposal for a regulation
Article 19 – paragraph 1
Article 19 – paragraph 1
Where a Member State has been granted an extension of its adjustment period but fails to satisfactorily comply with its set of reform and investment commitments underpinning the extension referred to in Article 13(1), the Council may on a recommendation from the Commission, recommend that the Member State concerned submits an amended national medium-term fiscal-structural plan with a revised net expenditure path withof a shorter adjustment period.
Amendment 913 #
Proposal for a regulation
Article 19 – paragraph 1
Article 19 – paragraph 1
Where a Member State has been granted an extension of its adjustment period but fails to satisfactorily comply with its set of reform and investment commitments underpinning the extension referred to in Article 13(1), the Council may on a recommendation from the Commission, recommend that the Member State concerned submits an amended national medium-term fiscal-structural plan with a revised net expenditure path with a shorter adjustment period.
Amendment 920 #
Proposal for a regulation
Article 20 – paragraph 1
Article 20 – paragraph 1
1. Each Member State shall submit to the Commission an annual progress report on the implementation of its national medium-term fiscal-structural plan, by 15 April each year at the latesteach year in April, preferably by mid-April and not later than 30th of April.
Amendment 921 #
Proposal for a regulation
Article 20 – paragraph 1
Article 20 – paragraph 1
1. Each Member State shall submit to the Commission an annual progress report on the implementation of its national medium-term fiscal-structural plan, by 15 April each year at the latesteach year in April, preferably by mid-April and not later than 30 April.
Amendment 924 #
2. The annual progress report referred to in paragraph 1 shall contain in particular information about the progress in the implementation of the net expenditure path, the implementation of broader reform and investment commitments in the context of the European Semester contextand the common priorities of the Union referred to in Article 12 (ba) and, if applicable, in the implementation of the set of reform and investment commitments underpinning an extension of the adjustment period and the progress in reducing the investment gaps referred to in Article 12(aa).
Amendment 925 #
Proposal for a regulation
Article 20 – paragraph 2
Article 20 – paragraph 2
2. The annual progress report referred to in paragraph 1 shall contain in particular information about the progress in the implementation of the net expenditure path, the implementation of broader reform and investment commitments in the European Semester context and, if applicable, in the implementation of the set of reform and investment commitments underpinning an extension of the adjustment period and progress in reducing the investment gaps referred to in Article 12 paragraph (aa).
Amendment 932 #
Proposal for a regulation
Article 21 – paragraph 1
Article 21 – paragraph 1
The Commission shall monitor the implementation of the national medium- term fiscal-structural plan, and in particular,including the net expenditure path and the reform and investment commitments.
Amendment 933 #
Proposal for a regulation
Article 21 – paragraph 1
Article 21 – paragraph 1
The Commission shall monitor the implementation of the national medium- term fiscal-structural plan, and in particular, the net expenditure path and the reform and investment commitments.
Amendment 948 #
Proposal for a regulation
Article 22 – paragraph 1
Article 22 – paragraph 1
Each national independent fiscal institution referred to in Article 8 of Council Directive […]32 [on the national budgetary frameworks] shall provide an assessment of compliance of the budgetary outturns dobserved net expenditure patah reported in the progress report referred to in Article 20 with the net expenditure path planned in the ongoing national medium-term fiscal-structural plan . Where applicable, each national independent fiscal institution shall also analyse the factors underlying a deviation from the net expenditure path. Each national independent fiscal institution shall provide, or endorse, estimations of national public and private investment gaps to achieve the priorities of the Union listed in Article 12, point (ba) _________________ 32 Council Directive […] of […] [amending Council Directive 2011/85/EU on requirements for budgetary frameworks of the Member States] (OJ …., …, p,…)
Amendment 951 #
Proposal for a regulation
Article 22 – paragraph 1
Article 22 – paragraph 1
Each national independent fiscal institution referred to in Article 8 of Council Directive […]32 [on the national budgetary frameworks] shall provide an assessment of compliance of the budgetary outturns data reported in the progress report referred to in Article 20 with the net expenditure path. Where applicable, each national independent fiscal institution shall also analyse the factors underlying a deviation from the net expenditure path. The assessment shall be made public and shall be submitted to the Member State and to the Commission. _________________ 32 Council Directive […] of […] [amending Council Directive 2011/85/EU on requirements for budgetary frameworks of the Member States] (OJ …., …, p,…)
Amendment 967 #
Proposal for a regulation
Article 23 – paragraph 1
Article 23 – paragraph 1
1. In the event of a significant risk of deviation from the net expenditure path or a risk that the government deficit may exceed the 3% of GDP reference value, the Commission may address a warning to the Member State concerned in accordance with Article 121(4) TFEU.
Amendment 970 #
Proposal for a regulation
Article 23 – paragraph 1
Article 23 – paragraph 1
1. In the event of a significant risk of deviation from the net expenditure path or a risk that the government deficit may significantly exceed the 3% of GDP reference value, the Commission may address a warning to the Member State concerned in accordance with Article 121(4) TFEU.
Amendment 971 #
Proposal for a regulation
Article 23 – paragraph 2
Article 23 – paragraph 2
Amendment 984 #
Proposal for a regulation
Article 24 – paragraph 2
Article 24 – paragraph 2
As long as the severe economic downturn in the euro area or the Union as a whole persists, the Commission shall continue to monitor debt sustainability, compatibility of policies and investments with the common objectives listed in Article 12, in particular the transition to climate neutrality by 2050 and ensure policy coordination and a consistent policy mix that takes into account the euro area and the Union dimension.
Amendment 998 #
Proposal for a regulation
Article 25 – paragraph 1
Article 25 – paragraph 1
On a recommendation from the Commission, the Council may adopt a recommendation allowing a Member State to deviate from its net expenditure path where exceptional circumstances outside the control of the Member State lead to a majorsignificant impact on the public finances of the Member State concerned, provided it continuously supports European common objectives listed in Article 12 and in particular a transition to climate neutrality by 2050 and does not endanger fiscal sustainability in the medium term. The Council shall specify a time-limit for such a deviation.
Amendment 1013 #
Proposal for a regulation
Article 26 – paragraph 1
Article 26 – paragraph 1
The European Parliament shall be duly involved in the European Semester in order to increase the transparency and ownership of, and the accountability for the decisions taken, in particular by means of an economic dialogue as well as for setting macroeconomic and social policy priorities . The Economic and Financial Committee, the Economic Policy Committee, the Employment Committee and the Social Protection Committee shall be consulted within the framework of the European Semester where appropriate. Relevant stakeholders, in particular the social partners, shall be involved within the framework of the European Semester, on the main policy issues where appropriate, in accordance with the provisions of the TFEU and national legal and political arrangements.
Amendment 1014 #
Proposal for a regulation
Article 26 – paragraph 1
Article 26 – paragraph 1
The European Parliament shall be duly involved in the European Semester in order to increase the transparency and ownership of, and the accountability for the decisions taken, in particular by means of an economic dialogue, as well as for setting macroeconomic and social policy priorities. The Economic and Financial Committee, the Economic Policy Committee, the Employment Committee and the Social Protection Committee shall be consulted within the framework of the European Semester where appropriate. Relevant stakeholders, in particular the social partners, shall be involved within the framework of the European Semester, on the main policy issues where appropriate, in accordance with the provisions of the TFEU and national legal and political arrangements.
Amendment 1030 #
Proposal for a regulation
Article 30 – paragraph 1
Article 30 – paragraph 1
1. Where a Member State fails to implement the reform and investment commitments included in its national medium-term fiscal-structural plan to address the country-specific recommendations that are relevant for the Macroeconomic Imbalance Procedure established by Regulation (EU) No 1176/2011, and wheren this leads the Commission to considers that the Member State concerned is affected by excessive imbalances in accordance with Article 7(1) of that Regulation, the procedure laid down in Article 7(2) of Regulation (EU) No 1176/2011 shall apply.
Amendment 1031 #
Proposal for a regulation
Article 30 – paragraph 1
Article 30 – paragraph 1
Amendment 1036 #
Proposal for a regulation
Article 30 – paragraph 2 a (new)
Article 30 – paragraph 2 a (new)
2 a. Where the Council decides against opening an excessive imbalance procedure under Article 7 (2) of Regulation (EU) No 1176/2011 in cases where the Commission considers that the Member State concerned is affected by excessive imbalances on the basis of the in-depth review referred to in Article 5 of that Regulation, it shall publicly explain its position.
Amendment 1038 #
Proposal for a regulation
Article 31 – paragraph 2 a (new)
Article 31 – paragraph 2 a (new)
Where a Member State becomes subject to a macroeconomic adjustment programme in accordance with Article 7 of Regulation (EU) No 472/2013, the medium-term fiscal-structural plan shall be taken into account in the design of the macroeconomic adjustment programme.
Amendment 1042 #
Proposal for a regulation
Article 32 – paragraph 1
Article 32 – paragraph 1
The Commission is empowered to adopt delegated acts in accordance with Article 33 to amend Annexes II to VII to adapt them to take due account of further developments or needs regarding the information in the national medium-term fiscal-structural plan (Annex II) or in the annual progress reports (Annex III), regarding the functioning of the control account (Annex IV), regarding the methodology for the assessment of plausibility (Annex V), regarding the common priorities of the Union (Annex VI) or regarding the assessment framework (Annex VII).
Amendment 1045 #
Proposal for a regulation
Article 33 – paragraph 2
Article 33 – paragraph 2
2. The power to adopt delegated acts referred to in Article 8 and Article 32 shall be conferred for an indeterminate period of time from XXXthe entry into force of this Regulation .
Amendment 1047 #
Proposal for a regulation
Article 33 – paragraph 3
Article 33 – paragraph 3
3. The delegations of power referred to in Article 8 and Article 32 may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect on the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force.
Amendment 1050 #
Proposal for a regulation
Article 33 – paragraph 6
Article 33 – paragraph 6
6. A delegated act adopted pursuant to Article 8 and Article 32 shall enter into force only if no objection has been expressed either by the European Parliament or by the Council within a period of one month of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by one month at the initiative of the European Parliament or of the Council.
Amendment 1059 #
Proposal for a regulation
Article 36 – paragraph 1
Article 36 – paragraph 1
1. By [31 December 203029] and every 5 years thereafter, the Commission shall submit to the European Parliament and to the Council a report on the application of this Regulation accompanied, where appropriate, by a proposal to amend this Regulation. The Commission shall make that report public.
Amendment 1061 #
Proposal for a regulation
Article 36 – paragraph 2 – introductory part
Article 36 – paragraph 2 – introductory part
2. The report referred to in paragraph 1 shall assess and review:
Amendment 1063 #
Proposal for a regulation
Article 36 – paragraph 2 – point a
Article 36 – paragraph 2 – point a
(a) the effectiveness of this Regulation, particularly whether the provisions governing decision-making have proved sufficiently efficient in ensuring a downward path for public debt ratios or maintaining them at to promote debt sustainability and sustainable and inclusive growth in the Member States and prudevent levels in accordance with the relevant Council recommendationthe occurrence of excessive government deficits;
Amendment 1064 #
Proposal for a regulation
Article 36 – paragraph 2 – point a
Article 36 – paragraph 2 – point a
(a) the effectiveness of this Regulation, particularly whether the provisions governing decision-making have proved sufficiently efficient in ensuring a downward path for public debt ratios or maintaining them at prudent levels in accordance with the relevant Council recommendations, in promoting debt sustainability and sustainable and inclusive growth in the Member States and in preventing the occurrence of excessive government deficits;
Amendment 1066 #
Proposal for a regulation
Article 36 – paragraph 2 – point a a (new)
Article 36 – paragraph 2 – point a a (new)
(a a) the use of the delegated powers as stated in Article 33;
Amendment 1067 #
Proposal for a regulation
Article 36 – paragraph 2 – point b
Article 36 – paragraph 2 – point b
(b) the progress in ensuring closer coordination of economic policies and sustaineable upward convergence of economic and social performances of the Member States.
Amendment 1068 #
Proposal for a regulation
Article 36 – paragraph 2 – point b
Article 36 – paragraph 2 – point b
(b) the progress in ensuring closer coordination of economic policies and sustained upward convergence of economic and social performances of the Member States.
Amendment 1075 #
Proposal for a regulation
Annex I
Annex I
Amendment 1076 #
Proposal for a regulation
Annex I
Annex I
Amendment 1111 #
Proposal for a regulation
Annex II – paragraph 1 – point f
Annex II – paragraph 1 – point f
(f) In case the Member State makes use of assumptions referred to under point (e) that differ from the Commission’s assumptions over the adjustment period of the national medium-term fiscal-structural plan and the subsequent10-year period in the absence of further budgetary measures, or if the proposed technical trajectory deviates from the one put forward by the Commission, due explanations and justifications based on sound economic arguments of these differences.
Amendment 1112 #
Proposal for a regulation
Annex II – paragraph 1 – point f
Annex II – paragraph 1 – point f
(f) In case the Member State makes use of assumptions referred to under point (e) that differ from the Commission’s assumptions over the adjustment period of the national medium-term fiscal-structural plan and the subsequent10-year period in the absence of further budgetary measures, due explanations and justifications based on sound economic arguments of these differences.ly justified
Amendment 1116 #
Proposal for a regulation
Annex II – paragraph 1 – point h
Annex II – paragraph 1 – point h
Amendment 1117 #
Proposal for a regulation
Annex II – paragraph 1 – point h
Annex II – paragraph 1 – point h
(h) If applicable, the duly substantiated reasons (with relevant sound and verifiable economic arguments) for deviating from the technical trajectory put forward by the Commission.
Amendment 1121 #
Proposal for a regulation
Annex II – paragraph 1 – point j
Annex II – paragraph 1 – point j
(j) Total public investment expenditure, as well as rReforms and public investment expenditure addressing the common priorities of the Union referred to in Annex VI.rticle 12 (ba)
Amendment 1122 #
Proposal for a regulation
Annex II – paragraph 1 – point j
Annex II – paragraph 1 – point j
(j) Total public investment expenditure, as well as rReforms and public investment expenditure addressing the common priorities of the Union referred to in Annex VI.
Amendment 1125 #
Proposal for a regulation
Annex II – paragraph 1 – point l
Annex II – paragraph 1 – point l
(l) A quantification, as much as possible, of the expected impacts of reforms and investment referred to under point (k) on fiscal sustainability, growth and employment, where applicable in line with commonly agreed methodologies.sustainable and inclusive growth, competitiveness and quality employment as well as upward social convergence;
Amendment 1126 #
Proposal for a regulation
Annex II – paragraph 1 – point l
Annex II – paragraph 1 – point l
(l) A quantification, as much as possible, of the expected impacts of reforms and investment referred to under point (k) on fiscal sustainability, growth andsustainable and inclusive growth, competitiveness and quality employment, where applicable in line with commonly agreed methodologies.
Amendment 1131 #
Proposal for a regulation
Annex II – paragraph 1 – point o
Annex II – paragraph 1 – point o
Amendment 1132 #
Proposal for a regulation
Annex II – paragraph 1 – point o
Annex II – paragraph 1 – point o
Amendment 1145 #
Proposal for a regulation
Annex III – paragraph 1 – point f
Annex III – paragraph 1 – point f
(f) During the lifetime of the Recovery and Resilience Facility, any EU investment instrument that would serve a similar purpose, information on the progress of implementation of the Recovery and Resilience Plan, to comply with the bi-annual reporting requirements in the context of the European Semester set out in Article 27 of Regulation (EU) 2021/241.
Amendment 1163 #
Proposal for a regulation
Annex V – paragraph 1 – introductory part
Annex V – paragraph 1 – introductory part
The methodology for the assessment of plausibility pursuant to Article 8 is replicable, predictable and transparent and based on the following conditions: