15 Amendments of Richard ASHWORTH related to 2012/2027(INI)
Amendment 4 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Recalls that the introduction of IFIs at European level was seen as a way of enabling the Union to stimulate investment in the real European economy at a time when, against the background of a constant fall in the volumesmart fiscal consolidation and scarcity of resources for allocatedion to the Union budget, its political ambitions were steadily growing;
Amendment 8 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Emphasises that the ultimate purpose of and the rationale for IFIs is that they should act as a catalyst which makes it possible, on the basis of a contribution from the Union budget, to mobilise fundinancing – public and/or private – for projects which can secure no support, or only inadequate support,experiencing sub-optimal investment situations when projects do not receive adequate financing from the market; ; points out that intervention by the public sector thus makes it possible to reduce the risk-related costs, or to defray part of those costs, thereby facilitating the implementationfinancing of the projects concerned;
Amendment 9 #
Motion for a resolution
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Firmly believes that IFIs must address one or more specific policy objectives of the Union, in particular those outlined by the EU2020 Strategy, operate in a non discriminatory fashion, must have a clear end date, respect the principles of sound financial management and be complementary to traditional instruments such as grants, thus improving the quality of spending and contributing to the guiding principles of ensuring optimal use of financial resources;
Amendment 12 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Emphasises that the use of IFIs is governed by strict legislative (agreement of the legislative authority required) and budgetary rules; notes that the use of IFIs does not generate costs for the Union budget, in that the liability borne by the Union budget ishall be limited to the amount of the Union contribution committed to the IFI in question on the basis of annual budget appropriations, as agreed by the budgetary authority, and there shall not give rise to contingent liabilities for the Union budget; points out that in fact IFIs must contribute to the sound and efficient management of public funds, given that the contribution paid from the budget may generate proceeds which can be reinvested (reflows) in the IFI concerned, thereby strengthening its capacity to provide support and enhancing the effectiveness of public-sector action; stresses the need therefore, for IFIs funded operations to be properly audited by the EU Court of Auditors and for the co-legislators to be fully informed about any findings;
Amendment 14 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Points out that investments which are certain to generate a return mustcould be financed by the market, whilst those which are not shcould remain eligible for grants;
Amendment 16 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. ReiterateConsiders that the increased use of IFIs in the Union budget mustshould not turn into a strategy to reduce the size of the Union budget, and but that their use shouldn't prejudice their allowing for possible reallocations and redeployments within the Union budget, welcomes the fact that in its communication on IFIs, as referred to above, the Commission acknowledges that ‘the intention behind an increased use of innovative financial instruments is (…) not to replace grant funding with financial instruments’;
Amendment 20 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. NotesIs concerned by the fact that in the cohesion policy field IFIs have been beset by delays in implementation, problems in achieving critical mass and major disparities between Member States;
Amendment 26 #
Motion for a resolution
Paragraph 21
Paragraph 21
21. WelcomNotes the Commission's proposal to introduce the possibility of combining grants and loans in the context of the Structural and Cohesion Funds;
Amendment 31 #
Motion for a resolution
Paragraph 25
Paragraph 25
25. Emphasises that since the mid-1990s public investment in the EU has been steadily falling and that this trend has become more pronounced since the start of the financial crisis in 2008; notes, further, that private investors are facing a credit squeeze and are finding it more difficult to borrow money on the capital markets; is convinced, therefore, that a return to coordinated, sustainable, intelligent and inclusive growth throughout the EU is contingent on the continued development of IFIs at Union levelthe continued development of IFIs at Union level could become a contributing factor if the Union is to ensure a return to smart, sustainable and inclusive growth;
Amendment 33 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. EmphasisNotes that, according to Commission estimates, implementing the EU2020 Strategy and its seven headline initiatives would require investment throughout the Union totalling EUR 1600 billion between now and 2020; notes that these investments meet objectives ranging from the implementation of major infrastructure projects to the provision of support for smaller-scale projects which offer significant potential for growth at local and regional level, including measures to foster competitiveness, growth, jobs as well as regional and social cohesion;
Amendment 41 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Emphasises the importance of ex ante and concurrent assessments in identifying situations of market failure or sub-optimal investment conditions; calls on the Commission to propose relevant criteria to govern the role and use of ex ante assessments; nd concurrent assessments; believes firmly in the principle of evidence based policy making and believes that such assessments will contribute to the efficient and effective running of IFIs;
Amendment 44 #
Motion for a resolution
Paragraph 29
Paragraph 29
29. Regards it as essential that a reasonable number of simple quantitative and qualitative indicators should be incorporated into the ex ante and ex post assessmentassessments of all IFIs; takes the view that this requirement must not serve to impose an excessive administrative burden on project managers;
Amendment 52 #
Motion for a resolution
Paragraph 36
Paragraph 36
Amendment 58 #
Motion for a resolution
Paragraph 38
Paragraph 38
38. Welcomes the prompt agreement reached between Parliament and the Council on the implementation of a trial periodpilot phase (2012-2013) for project bonds in the areas of transport, energy and information technologies3 ; expresses its willingness on the basis of the full-scale independent evaluation of this pilot phase to assess future steps to be taken in order to enhance the efficiency of Union spending as well as to increase investment volumes towards priority projects;
Amendment 60 #
Motion for a resolution
Paragraph 41
Paragraph 41
41. Is confidentThinks that the greater use of IFIs willcould have an extremely positive impact on the European economy, but fears that in practice this will be limited to projects offering short- to medium-term returns; fears that investment in projects equally fundamental to the achievement of the EU's strategic objectives for intelligent, sustainable and inclusive growth may not be realised because such projects are deemed too risky for investors and because public funds are lacking; calls, therefore, on the Commission to submit as quickly as possible proposals to facilitate the release of savings, an underused resource at present, to support medium- and long-term projects which generate sustainable growth in the Union;