Activities of José GUSMÃO related to 2023/0138(COD)
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council the effective coordination of economic policies and multilateral budgetary surveillance and repealing Council Regulation (EC) No 1466/97
Amendments (178)
Amendment 142 #
Proposal for a regulation
–
–
The European Parliament rejects the Commission proposal.
Amendment 143 #
Proposal for a regulation
Recital 1
Recital 1
(1) The coordination of the economic policies of the Member States within the Union, as provided for by the Treaty on the Functioning of the European Union (TFEU), entails compliance with the guiding principles of stable prices, sound public finances and monetary conditions and a sustainable balance of payments. This framework constrains the sovereignty of Member States.
Amendment 146 #
Proposal for a regulation
Recital 1 a (new)
Recital 1 a (new)
(1 a) The Global Financial Crisis and the following Sovereign Debts Crisis revealed the economic and political risks of EU lacking a lender-of-last-resort that can support Member States in times of crisis and impede a further fragmentation of the Euro Area.
Amendment 147 #
Proposal for a regulation
Recital 1 b (new)
Recital 1 b (new)
(1 b) The Intergovernmental Panel on Climate Change warns that the window of opportunity to secure a liveable and sustainable future for all is rapidly closing and calls for urgent near-term integrated climate action 1a; the transgression of six out of nine planetary boundaries suggests that Earth is now well outside of the safe operating space for humanity ; all EU and Member States' efforts should be directed towards the radical transformation of production and consumption patterns to secure a liveable future for all. Any revised EU economic governance framework that may result in hindering, lowering the ambition of, or delaying investments in a fair and ecological transition by putting a cap on investments or conditioning them to the achievement of arbitrary and misguided fiscal targets or macroeconomic stability would be disconnected from scientific reality and completely unfit to address the challenges ahead. _________________ 1a IPCC, 2023: Summary for Policymakers. In: Climate Change 2023: Synthesis Report. Contribution of Working Groups I, II and III to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change [Core Writing Team, H. Lee and J. Romero (eds.)]. IPCC, Geneva, Switzerland, pp. 1-34, doi: 10.59327/IPCC/AR6-9789291691647.001 https://www.ipcc.ch/report/ar6/syr/downlo ads/report/IPCC_AR6_SYR_SPM.pdf
Amendment 148 #
Proposal for a regulation
Recital 2
Recital 2
(2) The Stability and Growth Pact (SGP), which initially consisted of Council Regulation (EC) No 1466/9719 , Council Regulation (EC) No 1467/97 of 7 July 199720 and the Resolution of the European Council of 17 June 1997 on the Stability and Growth Pact21 , is based on the objective of sound and sustainable government finances as a means of strengthening the conditions for price stability and for strong sustainable growth underpinned by financial stability, thereby supporting the achievement of the Union’s objectives for. Such framework failed in promoting full employment sustainable and inclusive growth, and employment. _________________ 19 Council Regulation (EC) No 1466/97 of 7 July 1997 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies (OJ L 209, 2.8.1997, p. 1). 20 Council Regulation (EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure (OJ L 209, 2.8.1997, p. 6). 21 Resolution of the European Council on the Stability and Growth Pact Amsterdam, 17 June 1997 (OJ C 236, 2.8.1997, p. 1)overall macroeconomic convergence between Member States.
Amendment 149 #
Proposal for a regulation
Recital 2 a (new)
Recital 2 a (new)
(2 a) The limits of 3% and 60% of GDP for government deficit and public debt, respectively, lack a sound economic justification. Evidence shows the compliance by Member States with such rules is unrealistic, this is especially clear regarding the public debt threshold.
Amendment 150 #
Proposal for a regulation
Recital 2 b (new)
Recital 2 b (new)
(2 b) The Commission recognizes the large amount of public and private investment to accomplish the EU’s climate goals and the even higher when referring to the climate goals set in the Paris Agreement. However, evidence shows that EU net public investment as a proportion of GDP has not fully recovered since its sharp fall after the financial crisis, especially serious in Southern Europe, due to fiscal consolidation pressure under the former EU economic governance rules. Moreover, recent independent studies show that the current Commission’s proposal fails to guarantee sufficient fiscal capacity to Member States to promote the investment needed to promote climate transition and conversion.
Amendment 151 #
Proposal for a regulation
Recital 2 c (new)
Recital 2 c (new)
(2 c) EU's past experience showed the limits of fiscal consolidation in promoting sustainable public finances and promoting full-employment. Recently, the IMF published evidence that, on average, fiscal consolidation does not reduce debt- to-GDP ratio. Moreover, the so-called Troika programs failed to accomplish their own economic goals and accentuated the economic downturn.
Amendment 154 #
Proposal for a regulation
Recital 4
Recital 4
(4) The involvement of social partnernational parliaments, representatives of workers' associations, civil society organisations and other relevant stakeholders in the European SemesterSocial and Environmental Guidelines is key to ensure ownership and, transparent and inclusive policy-making.
Amendment 155 #
Proposal for a regulation
Recital 4
Recital 4
(4) The involvement of the European Parliament, national parliaments, social partners, civil society organisations and other relevant stakeholders in the European Semester is key to ensure ownership and transparent and inclusive policy-making.
Amendment 161 #
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 macroeconomic divergences and disparities in production capacities, 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 strategic compass for security and defence, all of which requires reforms and sustained high levels of investment in the years to come. _________________ 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 166 #
Proposal for a regulation
Recital 5 a (new)
Recital 5 a (new)
(5 a) Fiscal rules have incentivized governments of the Member States to carry out fiscal adjustments detrimental to long-term investments, contributing to a drop of total public investment as share of GDP during the decade 2011-2020 following the financial crisis. Public investment is crucial to guarantee a high level of citizens’ well-being, address existing and new social needs and foster the transition to a fair and sustainable economy. At the scale of the EU the additional investments needed in the decarbonation of the economy, in social infrastructures such as health, education, social housing and in the maintenance of public infrastructures amount to at least 520 billion euros, 142 billion euros, and 190 billion euros per year respectively, the majority of which should come from public sources to support a fair a democratic transition.
Amendment 169 #
Proposal for a regulation
Recital 5 b (new)
Recital 5 b (new)
(5 b) Backloading of investments and failure to mitigate and adapt to climate change fast enough will not only have catastrophic human consequences but will also be much more costly in sheer economic terms, hence contradicting the very purpose of the fiscal rules to support sound public finances.
Amendment 170 #
Proposal for a regulation
Recital 5 c (new)
Recital 5 c (new)
Amendment 172 #
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 at its core and therefore differentiate between Member States by taking into account their public debt challenges and allowing country-specific fiscal trajectorifull- employment and the achievement of the climate goals set in the Paris Agreement as well as in the European Pillar of Social Rights at its core and therefore differentiate between Member States by taking into account their country-specific challenges. This framework should allow a true ownership and democratic scrutiny of such choices.
Amendment 184 #
Proposal for a regulation
Recital 7
Recital 7
Amendment 187 #
Proposal for a regulation
Recital 8
Recital 8
(8) Detailed rules should therefore be laid down regarding the content, submission, assessment and monitoring of the national medium-term fiscal-structural plans, in order to promote debt sustainability and sustainable and inclusive growth in the Member States and prevent the occurrence of excessive government deficits through medium-term planningthe fullfilment of citizens' essentiel needs, reduction of inequalities and democratic ecological planification.
Amendment 188 #
Proposal for a regulation
Recital 8
Recital 8
(8) Detailed rules should therefore be laid down regarding the content, submission, assessment and monitoring of the national medium-term fiscal-structural plans, in order to promote such goals, while guaranteeing debt sustainability and sustainable and inclusive growth in the Member States and prevent the occurrence of excessive government deficits through medium-term planning.
Amendment 194 #
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 ensure sustained and gradual debt reductionpublic debt and sustainable and inclusive growth, 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 203 #
Proposal for a regulation
Recital 11
Recital 11
(11) The presentation of the national medium-term fiscal-structural plan should band the preceded by a technical dialogue with the Commission to ensure compliance with the provisions of this Regulation. On the basis of a recommendation from the Commission, the Council should set the net expenditure path and endorse the reform and investment commitments, including those taken for the possible extension of the adjustment period, as appropriateference trajectory should be approved in the national parliament of the Member State concerned, in line with its national rules and traditions. These plans and trajectories may be revised in case a new government takes power.
Amendment 208 #
Proposal for a regulation
Recital 12
Recital 12
(12) In order to simplify the Union fiscal framework and increase transparency, a single operational indicapromote national ownership, Member States should be responsible for presenting their own reference trajectory anchored in debt sustainability should serve as a basis for setting the fiscal path and carrying out annual fiscd the correspondent national medium-term fiscal-structural plan. Such trajectory should treat on an equal footing the goals of achieving full-employment and the climate goals surveillance for each Member State. That single operational indicator should be based on nationally financed net primary expenditure, that is to say expenditure net of discretionary revenue measures and excluding interest expenditure as well as cyclical unemployment expenditure and expenditure on Union programmes fully matched by revenue from Union funds. This indicator allows for macro-economic et in the Paris Agreement, as well as promoting the sustainability of public debt and primary deficit. Moreover, due to the recognized public investment needs, as well as other urgent expenditures to promote energy transition, a safeguard should be estabilisation as it is not affected by the operation of automatic stabilisers, including revenue and expenditure fluctuations outside the direct control of the governmenthed to guarantee that this type of expenditure does not account for the primary deficit of each Member State.
Amendment 214 #
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12 a) The sustainability of public debt endorsed by each Member State should take into account a diverse set of factors besides debt stock. Moreover, the underlying data, models and assumptions used should be made public, namely the fiscal multipliers used.
Amendment 215 #
Proposal for a regulation
Recital 13
Recital 13
Amendment 225 #
Proposal for a regulation
Recital 13 b (new)
Recital 13 b (new)
(13 b) In addition to being dependent on arbitrary assumptions over 14 to 17 years in the future, including policy-based assumptions, the Debt Sustainability Analysis underpinning the technical trajectory relies on an outdated macroeconomic model that does not acknowledge the embeddedness of economic activities in the biosphere, and therefore does not take into account their increasing exposure to climate change, resource scarcity, environmental degradation and natural disasters in the future. This highly problematic feature of the DSA will lead to misguided perceptions of economic risks and misguided economic projections that will in turn influence the whole economic governance.
Amendment 227 #
Proposal for a regulation
Recital 14
Recital 14
Amendment 231 #
Proposal for a regulation
Recital 15
Recital 15
Amendment 238 #
Proposal for a regulation
Recital 16
Recital 16
(16) EachThe national medium-term fiscal- structural plan should mention its status in the context of national procedures, notably whether the plan was presented to the national parliament and whether there has been parliamentary approval of the plan. Tparliament of the Member State concerned should approve the reference trajectory presented and the national medium-term fiscal- structural plan should also indicate whether the national parliament had the opportunity to discuss the Council recommendation on the previous plan and, if relevant, any other Council recommendation or decision, or any Commission warningin accordance with its national rules and traditions. Moreover, further exchanges should also require parliamentary approval.
Amendment 244 #
Proposal for a regulation
Recital 17
Recital 17
Amendment 246 #
Proposal for a regulation
Recital 18
Recital 18
Amendment 249 #
Proposal for a regulation
Recital 19
Recital 19
Amendment 250 #
Proposal for a regulation
Recital 20
Recital 20
Amendment 254 #
Proposal for a regulation
Recital 21
Recital 21
Amendment 258 #
Proposal for a regulation
Recital 22
Recital 22
(22) To ensure a more gradual debt reduction, the adjustmenthe implementation 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 growth-enhancing, support fiscalpromote full-employment and reduce poverty; help to achieve the climate goals set in the Paris Agreement and the necessary green energy transition; promote debt and deficit sustainability,; address the common priorities of the Union,; address relevant country-specific recommendations addrethe social and environmental guidelines issued toby the Member State under the European Semester, and address the country-specific investment priorities without leading to cuts in oCommission; ensure that the overall level of nationally financed public investment over the lifetime of ther 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 medium-term fiscal-structural plan, as a share of GDP, is higher than the medium-term level before the period of that plan; comply with the do no significant harm principle; guarantee universal access to basic public services; guarantee added value to the national economy.
Amendment 262 #
Proposal for a regulation
Recital 23
Recital 23
Amendment 265 #
Proposal for a regulation
Recital 24
Recital 24
(24) The set of reform and investment commitments put forward in the national medium-term fiscal-structural plans should be aligned with common priorities of the Union. That set of reform and investment commitments should also be consistent with the implementation of the national strategies put forward by the Member State concerned to address the relevant Union priorities. Where relevant, during the lifetime of the Recovery and Resilience Facility, cross-references to the Recovery and Resilience Plans should be made to ensure policy consistency.
Amendment 268 #
Proposal for a regulation
Recital 25
Recital 25
Amendment 270 #
Proposal for a regulation
Recital 26
Recital 26
Amendment 273 #
Proposal for a regulation
Recital 27
Recital 27
(27) Independent fiscal institutions should have a proven their capacity to foster fiscal discipline and strengthen thluralistic and multidisciplinary board, where minority views have credibility of Member States’ public finances. Ipresentation as well as workers' associations, in order to truly enhance national ownership, the role of. Moreover, when requested by the Member State concerned, such independent fiscal institutions, traditionally mandated to monitor compliance with the national framework, should be expanded to the economic governance framework of the Union should be responsible to produce the forecasts and the impact assessments needed to the budgetary practices.
Amendment 281 #
Proposal for a regulation
Recital 28
Recital 28
Amendment 283 #
Proposal for a regulation
Recital 29
Recital 29
Amendment 284 #
Proposal for a regulation
Recital 30
Recital 30
(30) In case of major shocks tofor the Member State concerned or in the euro area or the Union as a whole, it is necessary to have a general escape clause to be able to deal with a severen economic downturn in the euro area or the Union as a whole by allowing for a deviation from the net expenditure path provided that it does not endanger fiscal sustainability in the medium termby allowing for a deviation from the reference trajectory.
Amendment 286 #
Proposal for a regulation
Recital 31
Recital 31
(31) There should also be a country- specific escape clause to allow a deviation from the net expenditure path provided that it does not endanger fiscal sustainability in the medium term in the case of exceptional circumstances, such as unpredictable exogenous events that could not have been prevented and that require counter-cyclical fiscal measures, outside the control of the Member State which havereference trajectory in the case of social or ecological circumstances with a major impact on the public finances of the Member State. Such major impact should result in an overall size of the shock that exceeds a ‘normal’ range: for example costs of natural disasters should be factored in in budgetary planning within a certain range. The triggering and extension of general and country-specific escape clauses are subject to a Council recommendation.
Amendment 294 #
Proposal for a regulation
Recital 32
Recital 32
(32) This Regulation is part of a package together with Council Directive [XXX amending 2011/85/EU] and Council Regulation [XXX amending Council Regulation (EC) No 1467/97]. Together, they establish a reformed Union economic governance framework that incorporates into Union law the substance of Title III ‘Fiscal Compact’ of the Treaty on Stability, Coordination and Governance (TSCG) in the Economic and Monetary Union27 , in accordance with Article 16 thereof. By building on the experience with the implementation of the TSCG by the Member States, the proposed legislative package retains the Fiscal Compact’s medium-term orientation as a tool to achieve budgetary discipline and growth promotion. The package includes a strengthened country- specific dimension aimed at enhancing national ownership, including by means of a stronger role for Independent Fiscal Institutions, which draws essentially on the Fiscal Compact’s common principles proposed by the Commission28 in accordance with Article 3(2) of the TSCG. The analysis of expenditure net of discretionary revenue measures for the overall assessment of compliance required by the Fiscal Compact is set out in this Regulation. As in the Fiscal Compact, temporary deviations from the medium-term plan are allowed only in exceptional circumstances in this Regulation. In a similar vein to the Fiscal Compact, in case of significant deviations from the medium-term plan, measures should be implemented to correct the deviations over a defined period of time. The package strengthens fiscal surveillance and enforcement procedures to deliver on the commitment of promoting sound and sustainable public finances and sustainable and inclusive growth. The economic governance framework reform, thus, retains the fundamental objectives of budgetary discipline and debt sustainability set out in the TSCG. _________________ 27 Treaty on Stability, Coordination and Governance in the Economic and Monetary Union of 2 March 2012. 28 Communication COM(2012) 342 final of 20 June 2012 from the Commission ‘Common principles on national fiscal correction mechanismsMember States being the ones deciding on their fiscal choices and requiring its parliamentary approval.
Amendment 295 #
Proposal for a regulation
Recital 33
Recital 33
Amendment 298 #
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
This Regulation sets out rules ensuring effective coordination of economicfiscal policies of the Member States, thereby supporting the achievement of the Union’s objectives for growth and employmentquality full-employment, the climate goals set in the Paris Agreement and the necessary energy transition, the goals set in the European Pillar of Social Right, and sustainable and inclusive growth.
Amendment 308 #
Proposal for a regulation
Article 1 – paragraph 2
Article 1 – paragraph 2
It lays down detailed rules concerning the content, submission, assessment and monitoring ofprovides a framework, with the necessary flexibility, for Member States to present their reference trajectory and correspondent national medium-term fiscal- structural plans as part of multilateral budgetary surveillance by the Council and the Commission so as to promote debt sustainability and sustainable and inclusive growth in the Member States and prevent the occurrence of excessive government deficits, by medium-term planningiming to promote the achievement of the above mentioned goals while guaranteeing public debt sustainability. It lays down rules concerning the content, submission, assessment and monitoring of national medium-term fiscal-structural plans as part of multilateral budgetary to ensure progress towards EU common priorities as defined in Annex VI.
Amendment 316 #
Proposal for a regulation
Article 2 – paragraph 1 – point 1
Article 2 – paragraph 1 – point 1
(1) ‘country-specific recommendation’ means the annual guidance by the Council to a Member Stat'social and environmental guidelines' means the guidelines issued by the Commission on measures to ensure con economic, budgetary, employment and structural policies in accvergence of the economic, employment, environmental and social perfordmance with Articles 121 and 148 of the Treaty on the Functioning of the European Union (TFEU)of the Member States, as set in Article 3 of the present Regulation;
Amendment 317 #
Proposal for a regulation
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
Amendment 333 #
Proposal for a regulation
Article 2 – paragraph 1 – point 3
Article 2 – paragraph 1 – point 3
Amendment 335 #
Proposal for a regulation
Article 2 – paragraph 1 – point 4
Article 2 – paragraph 1 – point 4
Amendment 338 #
Proposal for a regulation
Article 2 – paragraph 1 – point 4 a (new)
Article 2 – paragraph 1 – point 4 a (new)
(4 a) 'reference trajectory' means the trajectory for the primary balance each Member State shall present, as set out in Article 5;
Amendment 339 #
Proposal for a regulation
Article 2 – paragraph 1 – point 5
Article 2 – paragraph 1 – point 5
(5) ‘national medium-term fiscal- structural plan’ means the document containing the fiscal, reformsocial convergence, sustainability and investment commitments of a Member State;
Amendment 344 #
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 net expenditure path, and of the reforms and investment commitments includedreference trajectory as well as advancements in achieving social progress and sustainability objectives in its national medium-term fiscal-structural plan;
Amendment 352 #
Proposal for a regulation
Article 2 – paragraph 1 – point 7
Article 2 – paragraph 1 – point 7
(7) ‘adjustmentimplementation period’ means the period of time over which the fiscal adjustmentplan of a Member State takes place, covering a minimum adjustment period of 4 years of the national medium-term fiscal- structural plan and its possible extension;
Amendment 353 #
Proposal for a regulation
Article 2 – paragraph 1 – point 7 a (new)
Article 2 – paragraph 1 – point 7 a (new)
(7 a) 'do no significant harm' means not supporting or carrying out economic activities that do significant harm to any environmental objective within the meaning of Article 17 of Regulation (EU)2020/852;
Amendment 355 #
Proposal for a regulation
Article 2 – paragraph 1 – point 8
Article 2 – paragraph 1 – point 8
Amendment 357 #
Proposal for a regulation
Article 2 – paragraph 1 – point 9
Article 2 – paragraph 1 – point 9
Amendment 361 #
Proposal for a regulation
Article 2 – paragraph 1 – point 10
Article 2 – paragraph 1 – point 10
Amendment 365 #
Proposal for a regulation
Article 3 – title
Article 3 – title
The European SemesterSocial and Environmental Guidelines
Amendment 366 #
Proposal for a regulation
Article 3 – paragraph 1
Article 3 – paragraph 1
In order to ensure closer coordination of economic policies and sustained convergence of the economic, employment, environmental and social performance of the Member States, 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 Councilmmission shall issue social and environmental guidelines and evaluate their applicability.
Amendment 378 #
Proposal for a regulation
Article 3 – paragraph 2 – introductory part
Article 3 – paragraph 2 – introductory part
The European Semester shall includguidelines shall detail measures on how to promote:
Amendment 379 #
Proposal for a regulation
Article 3 – paragraph 2 – point a
Article 3 – paragraph 2 – point a
(a) the formulation, and the surveillance of the implementcreation, of the broad guidelines for the economic policies of the Member States and of the Union in accordance with Article 121(2) TFEU, of country-specific recommendations and of the recommendation on the economic policy of the euro areaquality jobs and traineeships;
Amendment 382 #
Proposal for a regulation
Article 3 – paragraph 2 – point b
Article 3 – paragraph 2 – point b
(b) the formulation, and the surveillance of the implementation, of the employment guidelines that are to be taken into account by Member States in accordance with Article 148(2) TFEU, including the European Pillar of Social Rights, and of the related country-specific recommenduniversal access to basic public services, such as health, education, housing and transportations;
Amendment 386 #
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, as well as their monitoring via the annual progress reportsclimate goals set in the Paris Agreement and the necessary green energy transition;
Amendment 390 #
Proposal for a regulation
Article 3 – paragraph 2 – point d
Article 3 – paragraph 2 – point d
(d) the surveillance to prevent and correct macroeconomic imbalances pursuant to Regulation (EU) No 1176/2011;a fair tax system, eliminating tax avoidance and evasion practices.
Amendment 392 #
Proposal for a regulation
Article 3 – paragraph 2 – point d a (new)
Article 3 – paragraph 2 – point d a (new)
(d a) the goals laid out in the European Pillar of Social Rights.
Amendment 393 #
Proposal for a regulation
Article 3 – paragraph 2 – point e
Article 3 – paragraph 2 – point e
Amendment 404 #
Proposal for a regulation
Article 4
Article 4
Amendment 418 #
Proposal for a regulation
Chapter III – title
Chapter III – title
III THE TECHNICALREFERENCE TRAJECTORY
Amendment 419 #
Proposal for a regulation
Article 5 – title
Article 5 – title
Amendment 420 #
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
Amendment 434 #
Proposal for a regulation
Article 6
Article 6
Amendment 511 #
Proposal for a regulation
Article 7 – title
Article 7 – title
Amendment 512 #
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-The Commission may bilaterally provide remarks on possibly betterm fiscal-structural plans or, as appropriate, within 3 weeks from the request of the Member State to submit a new plan, the Commission shall publish: options to achieve the macroeconomic targets chosen by the Member State on the reference trajectory.
Amendment 517 #
Proposal for a regulation
Article 7 – paragraph 1 – point a
Article 7 – paragraph 1 – point a
Amendment 522 #
Proposal for a regulation
Article 7 – paragraph 1 – point b
Article 7 – paragraph 1 – point b
Amendment 529 #
Proposal for a regulation
Article 7 – paragraph 1 – point c
Article 7 – paragraph 1 – point c
Amendment 536 #
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 headlSuch remarks shall be duly justified with the underlyineg 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 planata, models and assumptions used.
Amendment 542 #
Proposal for a regulation
Article 7 – paragraph 3
Article 7 – paragraph 3
Amendment 548 #
Proposal for a regulation
Article 8
Article 8
Amendment 574 #
Proposal for a regulation
Article 9 – paragraph 1
Article 9 – paragraph 1
Each Member State shall submit to the Council and to the Commission a national medium-term fiscal-structural plan before end-April following the entry into force of this Regulation. The Member State concerned and the Commission may agree to extend this deadline by a reasonable period if necessary.
Amendment 590 #
Proposal for a regulation
Article 9 – paragraph 2 a (new)
Article 9 – paragraph 2 a (new)
Each Member State shall ensure that representatives of workers' associations, civil society organizations and other relevant stakeholders are given early and effective opportunities to participate in the preparation of the national medium-term fiscal structural plans.
Amendment 592 #
Proposal for a regulation
Article 10 – title
Article 10 – title
Amendment 593 #
Proposal for a regulation
Article 10 – paragraph 1
Article 10 – paragraph 1
Amendment 605 #
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 trajectoryfiscal plan 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 610 #
Proposal for a regulation
Article 11 – paragraph 1 – subparagraph 2
Article 11 – paragraph 1 – subparagraph 2
The national medium-term fiscal-structural plan shall also describe the actions of the Member State concerned to address the country-specific recommendations, including those that are relevant for the Macroeconomic Imbalances Procedure, and the warnings by the Commission, where applicable, or the recommendations by the Council, where applicable, made pursuant to Article 121(4) TFEUsocial and environmental guidelines issued by the Commission as laid down in Article 3.
Amendment 618 #
Proposal for a regulation
Article 11 – paragraph 2
Article 11 – paragraph 2
Amendment 630 #
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 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 termat public debt and primary deficit are put or kept on a plausibly sustainable path, starting after the implementation period;
Amendment 648 #
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,Social and Environmental Guidelines issued by the Commission 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 663 #
Proposal for a regulation
Article 12 – paragraph 1 – point b a (new)
Article 12 – paragraph 1 – point b a (new)
(b a) assess the national public investment gaps that need to be filled to achieve the common priorities listed in Annex VI;
Amendment 666 #
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 ensure the reduction of the investment gaps referred to in point (ba) within the timeframe of the plan, as well as guarantee universal access to basic public services;
Amendment 688 #
Proposal for a regulation
Article 13 – title
Article 13 – title
Conditions for an extension of the adjustmentimplementation period
Amendment 691 #
Proposal for a regulation
Article 13 – paragraph 1
Article 13 – paragraph 1
1. Where a Member State commits to a relevant set of reforms and investments in accordance with the criteria set out in paragraph 2, the adjustmentimplementation period may be extended by 3 years at most.
Amendment 696 #
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.national investment gaps as identified in the national fiscal-structural plans referred to in Article 12, point (ba), or that promote public debt sustainability
Amendment 702 #
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, the following criteria:
Amendment 704 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point i
Article 13 – paragraph 2 – subparagraph 2 – point i
(i) be growth enhancingpromote full-employment and reduce poverty;
Amendment 710 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point i a (new)
Article 13 – paragraph 2 – subparagraph 2 – point i a (new)
(i a) help to achieve the climate goals set in the Paris Agreement and the necessary green energy transition;
Amendment 711 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point i b (new)
Article 13 – paragraph 2 – subparagraph 2 – point i b (new)
(i b) promote overall upward social convergence and help to achieve the goals in the European Pillar of Social Rights;
Amendment 713 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point ii
Article 13 – paragraph 2 – subparagraph 2 – point ii
(ii) support fiscalpromote debt and deficit sustainability;
Amendment 728 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point iv
Article 13 – paragraph 2 – subparagraph 2 – point iv
(iv) address relevant country-specific recommendations addrethe social and environmental guidelines issued toby the Member State concerned, including, where applicable, recommendations issued under the Macroeconomic Imbalances ProcedureCommission as laid down in Article 3;
Amendment 739 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point v a (new)
Article 13 – paragraph 2 – subparagraph 2 – point v a (new)
(v a) comply with the do no significant harm principle;
Amendment 741 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point v b (new)
Article 13 – paragraph 2 – subparagraph 2 – point v b (new)
(v b) guarantee universal access to basic public services;
Amendment 742 #
Proposal for a regulation
Article 13 – paragraph 2 – subparagraph 2 – point v c (new)
Article 13 – paragraph 2 – subparagraph 2 – point v c (new)
(v c) guarantee added value to the national economic production.
Amendment 745 #
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-loaded, time-bound and verifiable.
Amendment 749 #
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 not be taken into account for an extension of the adjustment period.
Amendment 756 #
Proposal for a regulation
Article 13 – paragraph 5
Article 13 – paragraph 5
Amendment 765 #
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
1. A Member State may request toshall submit a revised national medium-term fiscal-structural plan to the Commission before the end of its adjustment period if there are objective circumstances preventing the implementation of the originalreference trajectory and a revised national medium-term fiscal- structural plan tor if the subCommission of a new national medium-term fiscal- structural plan is requested byin case a new government takes power.
Amendment 774 #
Proposal for a regulation
Article 14 – paragraph 1 a (new)
Article 14 – paragraph 1 a (new)
1 a. A Member State may request to submit a revised national medium-term fiscal-structural plan to the Commission before the end of its adjustment period if there are objective circumstances preventing the implementation of the original national medium-term fiscal- structural plan.
Amendment 777 #
Proposal for a regulation
Article 14 – paragraph 2
Article 14 – paragraph 2
Amendment 783 #
Amendment 788 #
Proposal for a regulation
Article 14 – paragraph 4
Article 14 – paragraph 4
Amendment 790 #
Proposal for a regulation
Article 14 – paragraph 5
Article 14 – paragraph 5
Amendment 804 #
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 plausibly downward path by the end of the adjustment period at the latest, or stays at prudent levelssustainable path, starting after the implementation period;
Amendment 816 #
Proposal for a regulation
Article 15 – paragraph 2 – point b
Article 15 – paragraph 2 – point b
(b) whether the governmentprimary deficit is maintained below the 3% of GDP reference value throughout the duration of the plan or whether the government deficit returns swiftly below the 3% of GDP reference valuput or kept on a plausibly sustainable pat the latest by the end of the adjustment period when the deficit is above this reference value ath, starting after the time of submission of the national medium-term fiscal-structural planplementation period;
Amendment 820 #
Proposal for a regulation
Article 15 – paragraph 2 – point c
Article 15 – paragraph 2 – point c
Amendment 828 #
Proposal for a regulation
Article 15 – paragraph 2 – point d
Article 15 – paragraph 2 – point d
Amendment 836 #
Proposal for a regulation
Article 15 – paragraph 2 – point e
Article 15 – paragraph 2 – point e
Amendment 845 #
Proposal for a regulation
Article 15 – paragraph 2 – point f
Article 15 – paragraph 2 – point f
Amendment 859 #
Proposal for a regulation
Article 15 – paragraph 2 – point f a (new)
Article 15 – paragraph 2 – point f a (new)
(f a) whether representatives of workers' associations , civil society organisations and other relevant stakeholders were consulted and how their opinions have been taken into account.
Amendment 874 #
Proposal for a regulation
Article 16
Article 16
Amendment 887 #
Proposal for a regulation
Article 17
Article 17
Amendment 893 #
Proposal for a regulation
Article 18
Article 18
Amendment 909 #
Proposal for a regulation
Article 19
Article 19
Amendment 923 #
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 periodreference trajectory as well as advancements in achieving social progress and sustainability objectives in its national medium-term fiscal-structural plan.
Amendment 930 #
Proposal for a regulation
Article 21
Article 21
Amendment 947 #
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 pathreference trajectory. _________________ 32 Council Directive […] of […] [amending Council Directive 2011/85/EU on requirements for budgetary frameworks of the Member States] (OJ …., …, p,…)
Amendment 960 #
Proposal for a regulation
Article 23
Article 23
Amendment 974 #
Proposal for a regulation
Article 24 – title
Article 24 – title
Amendment 975 #
Proposal for a regulation
Article 24 – paragraph 1
Article 24 – paragraph 1
Amendment 986 #
Proposal for a regulation
Article 24 – paragraph 3
Article 24 – paragraph 3
Amendment 990 #
Proposal for a regulation
Article 25 – title
Article 25 – title
Amendment 992 #
Amendment 1003 #
Proposal for a regulation
Article 25 – paragraph 2
Article 25 – paragraph 2
Amendment 1011 #
Proposal for a regulation
Article 25 a (new)
Article 25 a (new)
Article25a European Central Bank support The ECB shall do everything in its power to support the sustainability of public debt of Member States and prevent a significant divergence of the spreads of Member State’s sovereign debts.
Amendment 1012 #
Proposal for a regulation
Article 26
Article 26
Amendment 1020 #
Proposal for a regulation
Article 27
Article 27
Amendment 1021 #
Proposal for a regulation
Article 28 – paragraph 1
Article 28 – paragraph 1
Amendment 1024 #
Proposal for a regulation
Article 29 – paragraph 1
Article 29 – paragraph 1
1. The Council and the Commission shall regularly inform the European Parliament of the application of this Regulation.
Amendment 1025 #
Proposal for a regulation
Article 29 – paragraph 2
Article 29 – paragraph 2
Amendment 1029 #
Proposal for a regulation
Article 30
Article 30
Amendment 1037 #
Proposal for a regulation
Article 31
Article 31
A Member State subject to enhanced surveillance under Article 2 of Regulation (EU) No 472/2013 of the European Parliament and of the Council33 shall take into account any recommendations addressed to it under Article 23 of this Regulation when adopting measures aimed at addressing the sources or potential sources of difficulties pursuant to Article 3(1) of that Regulation. Where a Member State is subject to a macroeconomic adjustment programme and the changes thereto in accordance with Article 7 of Regulation (EU) No 472/2013, it shall not be required to submit a medium-term fiscal-structural plan pursuant to Article 9 of this Regulation and an annual progress report pursuant to Article 20 of this Regulation. _________________ 33 Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the strengthening of economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, p. 1).rticle 31 deleted Interaction with the enhanced surveillance procedure
Amendment 1040 #
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 1051 #
Proposal for a regulation
Article 33 – paragraph 6 a (new)
Article 33 – paragraph 6 a (new)
6 a. When modifying Annexes I, II and VI the European Commission will ask for the opinion of European workers' associations.
Amendment 1052 #
Proposal for a regulation
Article 34 – paragraph 1
Article 34 – paragraph 1
The Commission shallmay ensure a permanent dialogue with 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 assessmenthe European Commission may invite representatives of workers' associations and civil society organizations to offer their views ofn the socio- economic situation in the Member State and the identification of any risks or difficulties in complying with the objectives of this Regulation.
Amendment 1053 #
Proposal for a regulation
Article 35
Article 35
Amendment 1060 #
Proposal for a regulation
Article 36 – paragraph 2
Article 36 – paragraph 2
Amendment 1079 #
Proposal for a regulation
Annex I
Annex I
Amendment 1102 #
Proposal for a regulation
Annex II – paragraph 1 – point a
Annex II – paragraph 1 – point a
(a) The national net expenditure pathreference trajectory referred to in Article 11. The other5, including all budgetary variables outside the control of the government that are part of the definition of net expenditure referred to in Article 2 consist in expenditure on programmes of the Union fully matched by Union funds revenue and cyclical eldeemed relevant by the government, namely expenditure related public pension scheme and expenditure for investments that contribute to the achievements of unemployment benefit expenditure.EU common objectives;
Amendment 1104 #
Proposal for a regulation
Annex II – paragraph 1 – point a a (new)
Annex II – paragraph 1 – point a a (new)
(a a) on how to address the social and environmental guidelines laid down in article 3 of the present Regulation;
Amendment 1106 #
Proposal for a regulation
Annex II – paragraph 1 – point c
Annex II – paragraph 1 – point c
(c) The projected path of the public debt ratio. and its assessed sustainability according to annex V;
Amendment 1108 #
Proposal for a regulation
Annex II – paragraph 1 – point d
Annex II – paragraph 1 – point d
(d) Information on implicit liabilities related to ageing, and contingent liabilities with a potentially large impact on government budgets, including government guarantees, non-performing loans, and liabilities stemming from the operation of public corporations, including the extent thereof, potential expenses and obligations arising from court cases and, to the extent possible, information on disaster and climate contingent liabilities. It shall also include risks correlated to ineffective taxation systems, tax evasion and avoidance, and the correspondent impact on inequalities;
Amendment 1109 #
Proposal for a regulation
Annex II – paragraph 1 – point e
Annex II – paragraph 1 – point e
(e) The main assumptions about expected economic developments and main economic variables which are relevant for ensuring consistency with a convergence of public debt towards prudent levels and maintaining the government deficit below the 3% of GDP reference value.sustainable level of public debt and primary deficit;
Amendment 1110 #
Proposal for a regulation
Annex II – paragraph 1 – point f
Annex II – paragraph 1 – point f
Amendment 1114 #
Proposal for a regulation
Annex II – paragraph 1 – point g
Annex II – paragraph 1 – point g
(g) An analysis of how changes in the main economic assumptions would affect the budgetary and debt position of the Member State., namely fiscal multipliers;
Amendment 1115 #
Proposal for a regulation
Annex II – paragraph 1 – point h
Annex II – paragraph 1 – point h
Amendment 1118 #
Proposal for a regulation
Annex II – paragraph 1 – point i
Annex II – paragraph 1 – point i
(i) Reform and iInvestment priorities to respond to the main challenges as identified in the country-specific recommendations, taking into account the state of play of implementation of, namely on the national investment gaps that need to be filled to achieve those country-specific recommendations.mmon priorities listed in Annex VI;
Amendment 1123 #
Proposal for a regulation
Annex II – paragraph 1 – point k
Annex II – paragraph 1 – point k
(k) If applicable, information on a specific, time-bound and verifiable set of reform and investment commitments underpinning an extension of the adjustmentimplementation period pursuant to Article 13, a timeline for its implementation, as well as sound economic arguments that this set of reform and investment commitments fulfil the criteria under Article 13 taking into account the assessment criteria in Annex VII.
Amendment 1124 #
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 (kj) on fiscal sustainability, growth and employment,ull employment, achieving of the environmental goals in the Paris Agreement, sustainable and inclusive growth where applicable in line with commonly agreed methodologies.
Amendment 1128 #
Proposal for a regulation
Annex II – paragraph 1 – point m
Annex II – paragraph 1 – point m
(m) The medium-term budgetary and potential medium-term growth impact of those reform and investment commitments referred to under point (k) where possible.
Amendment 1129 #
Proposal for a regulation
Annex II – paragraph 1 – point n
Annex II – paragraph 1 – point n
Amendment 1133 #
Proposal for a regulation
Annex II – paragraph 1 – point p
Annex II – paragraph 1 – point p
Amendment 1134 #
Proposal for a regulation
Annex II – paragraph 1 – point q
Annex II – paragraph 1 – point q
(q) Information on the consultations of social partnerA chapter on the quantity and quality of consultations held with national parliaments, representatives of workers' associations, civil society organisations and other relevant stakeholders in view of the preparation of the plan.
Amendment 1138 #
Proposal for a regulation
Annex III – paragraph 1 – point a
Annex III – paragraph 1 – point a
(a) A comparison between the planned net expenditure based on the net expenditure path set by the Council and the net expenditure based on outturn data. progress achieved in the sustainability framework as in point (b) of Annex II and materialisation or avoidance of spill-over effects on other EU objectives and effectiveness of remedies or mitigation measures addressing social and sustainability risks;
Amendment 1140 #
Proposal for a regulation
Annex III – paragraph 1 – point b
Annex III – paragraph 1 – point b
(b) A comparison from the beginning of the national medium-term fiscal- structural plan between the projections of the main economic variables submitted in that plan and the outturn data for these variables, as well as the implications for compliance with the net expenditure path set by the Council and the implications on the projected path of the public debt ratio reported in that plan.analysis of government revenue paths with regard to progress made in addressing social and sustainability challenges identified in the Plan, specifying how such paths fulfil requirements of sufficiency, fairness and progressivity of taxation systems. Information shall include measures adopted to mitigate or remove risks correlated to ineffective taxation systems, evasion and tax elusion and impact on inequalities on sustainability of taxation systems;
Amendment 1141 #
Proposal for a regulation
Annex III – paragraph 1 – point d
Annex III – paragraph 1 – point d
(d) Progress and the planned implementation for the following year of the commitments to reforms and investment given in the national medium- term fiscal-structural plan under the information to be provided in accordance with Annex II, points (i) and (j), as well as, if applicable, (k) and (n) detailing how investments planned will contribute to closing gaps reported in national-fiscal structural plans.
Amendment 1142 #
Proposal for a regulation
Annex III – paragraph 1 – point d a (new)
Annex III – paragraph 1 – point d a (new)
(d a) Detailed information on how representatives of workers' associations, civil society organizations and other relevant stakeholders are being involved in the implementation of the commitments;
Amendment 1143 #
Proposal for a regulation
Annex III – paragraph 1 – point e
Annex III – paragraph 1 – point e
Amendment 1144 #
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, 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 1147 #
Proposal for a regulation
Annex III – paragraph 1 – point h
Annex III – paragraph 1 – point h
(h) The main assumptions about expected economic developments and main economic variables for the following years of the adjustmentimplementation period, including the public debt ratio.;
Amendment 1148 #
Proposal for a regulation
Annex III – paragraph 1 – point i
Annex III – paragraph 1 – point i
(i) The projections at unchanged policies for the following years of the adjustmentimplementation period for government expenditure and revenue and their main components, including public investment expenditure.;
Amendment 1149 #
Proposal for a regulation
Annex III – paragraph 1 – point j
Annex III – paragraph 1 – point j
(j) The planned government expenditure and revenue as a percentage of GDP and their main components for the following years of the adjustment period, taking into account the net expenditure path set by the Council.implementation period
Amendment 1150 #
Proposal for a regulation
Annex III – paragraph 1 – point l
Annex III – paragraph 1 – point l
Amendment 1156 #
Proposal for a regulation
Annex IV
Annex IV
Amendment 1161 #
Proposal for a regulation
Annex V – subheading 1
Annex V – subheading 1
Methodology to assess plausisustainability by the CommissionMember State
Amendment 1162 #
Proposal for a regulation
Annex V – paragraph 1 – introductory part
Annex V – paragraph 1 – introductory part
Amendment 1171 #
Proposal for a regulation
Annex VI – paragraph 1 – point c a (new)
Annex VI – paragraph 1 – point c a (new)
(c a) The UN 2030 Agenda for sustainable development, including its Sustainable Development Goals.
Amendment 1172 #
Proposal for a regulation
Annex VI – paragraph 1 – point d
Annex VI – paragraph 1 – point d
Amendment 1176 #
Proposal for a regulation
Annex VII
Annex VII