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61 Amendments of Philippe LAMBERTS related to 2010/0280(COD)

Amendment 69 #
Philippe LAMBERTS
Proposal for a regulation
Citation 1
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 121(6) and Article 148 thereof,
2011/02/15
Committee: ECON
Amendment 75 #
Philippe LAMBERTS
Proposal for a regulation
Recital 1
(1) The coordination of the economic policies of the Member States within the Union, as provided by the Treaty, should entail compliance with the guiding principles of stable prices, sound public finances and monetary conditions and a sustainable balance of paymentsbroad guidelines of economic policies in order to achieve the objectives of the Union, as defined in Article 3 of the Treaty on European Union.
2011/02/15
Committee: ECON
Amendment 80 #
Philippe LAMBERTS
Proposal for a regulation
Recital 2 a (new)
(2 a) The provisions of this regulation are fully consistent with article 3 of the Treaty horizontal clauses of the TFEU, namely articles 7, 8, 9, 10 and 11, as well as provisions of protocol 26 and article 151, 152 and 153(5).
2011/02/15
Committee: ECON
Amendment 81 #
Philippe LAMBERTS
Proposal for a regulation
Recital 2 b (new)
(2 b) This Regulation does not affect the exercise of fundamental rights as recognized in the Member States and by Union law. Nor does it affect the right to negotiate, conclude and enforce collective agreements and to take industrial action in accordance with national law and practices which respect Union law and in particular articles 151 and 152 of the Treaty.
2011/02/15
Committee: ECON
Amendment 86 #
Philippe LAMBERTS
Proposal for a regulation
Recital 3
(3) The Stability and Growth Pact is based on the objective of soundustainable government finances as a means of strengthening the conditions for price stability and for strong sustainable growth underpinned by financial stability and conducive to employment creation.
2011/02/15
Committee: ECON
Amendment 142 #
Philippe LAMBERTS
Proposal for a regulation
Recital 7
(7) The obligation to achieve and maintain the medium-term budgetary objective needs to be put into operation, through the specification of principles of prudentsustainable fiscal policy-making.
2011/02/15
Committee: ECON
Amendment 155 #
Philippe LAMBERTS
Proposal for a regulation
Recital 9
(9) PrudentSustainable fiscal policy-making implies thatcompliance with a set of revenue side and expenditure side rules where growth in cyclically adjusted revenues, net of one-off and other temporary measures should normally not fall behind the medium growth rate of GDP over ten years horizon updated at regular intervals and the growth rate of government expenditure does normally not exceed a prudent medium-term growth rate of GDP, increases in excess of that norm are matched by discretionary increases in government revenues and discretionary revenue reductions are compensated by reductions in expenditure over a ten-year horizon updated at regular intervals, discretionary increases in excess of that norm on expenditure or discretionary reductions in tax revenues are matched by accompanying other discretionary measures, either on the side of expenditure and/or on the side of tax revenues. Sustainable fiscal policy making involves taking proper and explicit account of long term determinants of economic sustainability such as social inclusion, climate change and other environmental externalities and the costs related to the internalization of other negative externalities which represent a burden for future generations.
2011/02/15
Committee: ECON
Amendment 166 #
Philippe LAMBERTS
Proposal for a regulation
Recital 10
(10) A temporary departure from prudentsustainable fiscal policy-making should be allowed in case of severe economic downturn of a general nature in order to facilitate economic recovery.
2011/02/15
Committee: ECON
Amendment 177 #
Philippe LAMBERTS
Proposal for a regulation
Recital 11
(11) In the event of a significant deviation from prudentsustainable fiscal-policy a warning should be addressed to the Member State concerned and in case the significant deviation persists or is particularly serious, a recommendation should be addressed to the Member State concerned to take the necessary corrective measures.
2011/02/15
Committee: ECON
Amendment 191 #
Philippe LAMBERTS
Proposal for a regulation
Recital 12
(12) In order to ensure compliance with the fiscal surveillance framework of the Union for participating Member States, a specific enforcement mechanism should be established on the basis of Article 136 of the Treaty for cases where a persistent and significant deviation from prudentsustainable fiscal policy making prevails.
2011/02/15
Committee: ECON
Amendment 205 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 1 b (new)
Regulation (EC) No 1466/97
Section 1 –A (new)
1 b. The following section shall be inserted: Section 1-A European semester for economic policy coordination" Article 2-aa The multilateral surveillance by the Council shall be conducted as part of a European semester for economic policy coordination (Semester) in line with the provisions of this Regulation and the requirement that Member States regard their economic policies as a matter of common concern and that they coordinate them within the Council in accordance with the objectives set out in Article 120 TFEU. The Semester shall, inter alia, consist of the multilateral surveillance of the stability and convergence programmes under this Regulation, the prevention and correction of macroeconomic imbalances under Regulation (EU) No .../2011, the excessive deficit procedure under Regulation (EC) No 1467/97 and the formulation of the broad guidelines of the economic policies of the Member States and of the Union (Broad Economic Policy Guidelines) in accordance with Article 121(2) TFEU and the guidelines that Member States shall take into account in their employment policies (Employment Guidelines) in accordance with Article 148(2) TFEU and the implementation of those guidelines. The European Parliament and the national parliaments shall be duly involved in the Semester in order to increase transparency, ownership and accountability of any decisions taken. In order to ensure an adequate involvement of the European Parliament, a procedural agreement between the European Parliament, the European Council, the Council and the Commission shall be concluded by 31 December 2011. That procedural agreement shall be reviewed every three years and amended if appropriate. Any communication from the Commission addressed to the EU as a whole in the framework of the European Semester, and in particular Annual Growth Surveys, shall include an explicit social impact assessment of the policy actions identified and recommended. Article 2-ab The Economic and Financial Committee set up under Article 134 TFEU, the Employment Committee, established pursuant to Article 150 TFEU, and the Social Protection Committee shall be consulted within the framework of the Semester wherever appropriate. The relevant stakeholders, in particular the social partners, shall be consulted, within the framework of the Semester, on the main policy formulations to be discussed by the Union institutions. Article 2-ac In order to enhance the dialogue between the Union institutions, in particular the European Parliament, the Council and the Commission, on the one hand, and the national parliaments, national governments and other relevant bodies of the Member States on the other, and to ensure greater transparency and accountability, the competent committee of the European Parliament may organise public debates on macro-economic and budgetary surveillance undertaken by the Council and the Commission.
2011/02/15
Committee: ECON
Amendment 213 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 1 c (new) – point a (new)
Regulation (EC) No 1466/97
Article 2a
[Current text of the first paragraph of Article 2a of Regulation (EC) No 1466/971c. Article 2a is amended as follows: (a) the first paragraph is replaced by the following: Each Member State shall have a differentiated medium-term objective for its budgetary position. These country- specific medium-term budgetary objectives may diverge from the requirement of a close to balance or in surplus position. They shall provide a safety margin with respect to the 3 % of GDP government deficit ratio; they shall ensure rapid progress towards sustainability and, taking this into account, they shall allow room for budgetary manoeuvre, considering in particular the needs for public investment . Expenditures devoted to investments aiming at generating sustainable potential output growth of the EU while alleviating the burdens on future generations will be explicitly taken into account in the overall assessment of compliance with country specific medium- term objectives and under certain ceiling, conditions not added to the total amount of the reference values. The ceiling conditions, list of eligible categories of investments and selection criteria related to these projects shall be specified by means of delegated acts according to articles 10a to 10d By 2015 and every three years thereafter, the Commission shall publish an evaluation report of this provision and make proposals to update these specifications if appropriate.
2011/02/15
Committee: ECON
Amendment 223 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 1 c (new) – point b
Regulation (EC) No 1466/97
Article 2a – paragraph 3
[Current text of Article 2a (3)of Regulation (EC) No 1466/97(b) the third paragraph is replaced by the following: A Member State’s medium-term budgetary objective can be revised when a major structural reform is implemented or the Member State experiences a severe economic downturn and in any case every four years."
2011/02/15
Committee: ECON
Amendment 244 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 2 – subpoint b – subpoint i
Regulation (EC) No 1466/97
Article 3 – paragraph 2 – point a
(a) the medium-term budgetary objective and the adjustment path towards this objective for the general government balance as a percentage of GDP, ; the expected path of the general government debt ratio,; the planned growth path of cyclically adjusted government expenditure,; the planned growth path of government revenuecyclically adjusted revenues, net of one-off and other temporary measures at unchanged policy and a quantification of the planned discretionary revenue and expenditure measures;
2011/02/15
Committee: ECON
Amendment 246 #
Philippe LAMBERTS, Sven GIEGOLD
Proposal for a regulation – amending act
Article 1 – point 2 – subpoint b – subpoint i a (new)
Regulation (EC) No 1466/97
Article 3 – paragraph 2 – point a a (new)
(ia) the following point is inserted: (aa) The expected path of the general government debt ratio, including any implicit or contingent liability, such as public guarantees, the exact nature of that information being set out in a harmonised framework to be established by the Commission;
2011/02/15
Committee: ECON
Amendment 250 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 2 – subpoint b – subpoint i d (new)
Regulation (EC) No 1466/97
Article 3 – paragraph 2 – point b a (new)
(id) The following point is inserted: (ba) if applicable, the reasons for a deviation from the required adjustment path towards the medium term budgetary objective taking proper account of provisions of article 2A.
2011/02/15
Committee: ECON
Amendment 254 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 2 – subpoint b – subpoint ii
Regulation (EC) No 1466/97
Article 3 – paragraph 2 – point c
(c) a quantitative assessment of the budgetary and other economic policy measures being taken or proposed to achieve the objectives of the programme, comprising a comprehensive cost-benefit analysis of major structural reforms which have direct long- term cost-saving effects, including by raising sustainable potential growth;
2011/02/15
Committee: ECON
Amendment 264 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 2 – subpoint c
Regulation (EC) No 1466/97
Article 3 – paragraph 3
3. The information about the paths for the general government balance and debt ratio, the growth of cyclically adjusted government expenditure, the planned growth path of government cyclically adjusted revenues, net of one-off and other temporary measures revenue at unchanged policy, the planned discretionary revenue and expenditure measures and the main economic assumptions referred to in paragraph 2(a) and (b) shall be on an annual basis and shall cover, the preceding year, the current year and at least the following three years.
2011/02/15
Committee: ECON
Amendment 271 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 3
Regulation (EC) No 1466/97
Article 4 – paragraph –1 (new)
-1. Without prejudice of the subsidiarity principle Member States shall consult their national social partners and get approval of their national parliament on their project of Stability programme.
2011/02/15
Committee: ECON
Amendment 274 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 1
Based on assessments by the Commission and, the Economic and Financial Committee and the Social Protection Committee, the Council shall, within the framework of multilateral surveillance under Article 121 of the Treaty, examine the medium-term budgetary objectives presented by the Member States concerned, assess whether the economic assumptions on which the programme is based are plausible, whether the adjustment path towards the medium-term budgetary objective is appropriate and whether the measures being taken or proposed to respect that adjustment path are sufficient to achieve the medium-term budgetary objective over the cycle.
2011/02/15
Committee: ECON
Amendment 287 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 2
The Council, when assessing the adjustment path toward the medium-term budgetary objective, shall examine if the Member State concerned pursues an appropriate annual improvement of its cyclically-adjusted budget balance, net of one-off and other temporary measures, required to meet its medium-term budgetary objective, with 0.5% of GDP as a benchmark. For Member States with a high level of debt or excessive macroeconomic imbalances or both, the Council shall examine whether the annual improvement of the cyclically-adjusted budget balance, net of one-off and other temporary measures is higher than 0.5% of GDP after taking into account all relevant factors. The Council shall take into account whether a higher adjustment effort is made in economic good times, whereas the effort mayshall be more limited in economic bad times. in conformity with the point system defined in article 10a
2011/02/15
Committee: ECON
Amendment 294 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 3
With a view to ensuring that the medium- term budgetary objective is effectively achieved and maintained, the Council shall verify that the growth path of government expenditure, taken in conjunction with the effect of measures being taken or planned on the revenue side, is consistent with prudentsustainable fiscal policy-making.
2011/02/15
Committee: ECON
Amendment 299 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
article 5 – paragraph 1 – subparagraph 4 – point a
(a) for Member States that have achieved the medium-term budgetary objective, annual expenditure growth doesgrowth government cyclically adjusted revenues, net of one-off and other temporary measures will not fall behind the medium growth rate of GDP a ten- year horizon updated at regular intervals, and the growth rate of government expenditure does normally not exceed a prudent medium-term growth rate of GDP growth, unless the excess is matched by discretionary revenue measures;a ten- year horizon updated at regular intervals:
2011/02/15
Committee: ECON
Amendment 306 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 4 – point b
(b) for Member States that have not yet reached their medium-term budgetary objective, annual expenditure growth does not exceed a rate below a prudent medium-term rate of GDP growth, unless the excess is matched bydiscretionary increases in excess of that norm on expenditure or discretionary reductions in government revenues are matched by accompanying other discretionary revenue measures. The size of the shortfall, either ofn the growth rate of government expenditure compared to a prudent medium-term rate of GDP growth is set in such a way as to ensure an appropriate adjustment towards the medium-term budgetary objective;side of expenditure and/or on the side of tax revenues.
2011/02/15
Committee: ECON
Amendment 315 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 4 – point c
(c) discretionary reductions of government revenue items are matched either by expenditure reductions or by discretionary increases in other government revenue items or both.deleted
2011/02/15
Committee: ECON
Amendment 325 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 5
The prudentsustainable medium-term of growth should be assessed on the basis of projections over a ten-year horizon updated at regular intervals.
2011/02/15
Committee: ECON
Amendment 335 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 6
When defining the adjustment path to the medium-term budgetary objective for Member States that have not yet reached this objective and in allowing a temporary deviation from this objective for Member States that have already reached it, under the condition that an appropriate safety margin with respect to the deficit reference value is preserved and that the budgetary position is expected to return to the medium-term budgetary objective within the programme period, the Council shall take into account the implementation of major structural reforms which have direct long-term cost-saving effects, including by raising sustainable potential growth, and therefore a verifiable impact on the long- term sustainability of public finances.
2011/02/15
Committee: ECON
Amendment 338 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 7
Special attention shall be paid to pension reforms introducing a multi-pillar system that includes a mandatory, fully funded pillar. Member States implementing such reforms shall be allowed to deviate from the adjustment path to their medium-term budgetary objective or from the objective itself, with the deviation reflecting the net cost of the reform to the publicly managed pillar, under the condition that the deviation remains temporary and that an appropriate safety margin with respect to the deficit reference value is preserved.deleted
2011/02/15
Committee: ECON
Amendment 349 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 8
The Council shall furthermore examine whether the contents of the stability programme facilitate the achievement of sustained and real convergence within the euro area, closer coordination of economic policies and whether the economic policies of the Member State concerned are consistent with the broad guidelines of economic policies of the Member States and of the Union.
2011/02/15
Committee: ECON
Amendment 357 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 1 – subparagraph 9
In periods of severe economic downturn of a general nature Member States may be allowed to temporarily depart from the adjustment path implied by prudentsustainable fiscal- policy making referred to in the fourth subparagraph.
2011/02/15
Committee: ECON
Amendment 365 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 4
Regulation (EC) No 1466/97
Article 5 – paragraph 2
2. The Council shall carry out the examination of the stability programme within at most three months of the submission of the programme. The Council, on a recommendation from the Commission and after consulting the Economic and Financial Committee and the Social Protection Committee, shall, if necessary, deliver an opinion on the programme. Where the Council, in accordance with Article 121 of the Treaty, considers that the objectives and the content of the programme should be strengthened with particular reference to prudentsustainable fiscal policy-making, the Council shall, in its opinion, invite the Member State concerned to adjust its programme.
2011/02/15
Committee: ECON
Amendment 373 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 1
1. As part of multilateral surveillance in accordance with Article 121(3) of the Treaty, the Council shall monitor the implementation of stability programmes, on the basis of information provided by participating Member States and of assessments by the Commission and, the Economic and Financial Committee, and the Social Protection Committee in particular with a view to identifying actual or expected significant divergences of the budgetary position from the medium-term budgetary objective, or from the appropriate adjustment path towards it ensuing from deviations from prudentsustainable fiscal-policy making.
2011/02/15
Committee: ECON
Amendment 382 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 2 – first subparagraph
In the event of a significant deviation from prudentsustainable fiscal-policy making referred in the fourth subparagraph of Article 5(1) of this regulation, and in order to prevent the occurrence of an excessive deficit, the Commission, in accordance with Article 121(4) of the Treaty may address a warning to the Member State concerned.
2011/02/15
Committee: ECON
Amendment 393 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 2 – subparagraph 2
A deviation from prudentsustainable fiscal policy making shall be considered significant if the following conditions occur: an excess over the expenditure growth consistent with prudentsustainable fiscal policy-making, not offset by discretionary revenue-increasing measures; or discretionary revenue- decreasing measures not offset by reductions in expenditure; and the deviation has a total impact on the government balance of at least 0.5 % of GDP in one single year or of at least 0.25 % of GDP on average per year in two consecutive years.
2011/02/15
Committee: ECON
Amendment 396 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 2 – subparagraph 3
The deviation shall not be considered if the Member State concerned has significantly overachieved the medium-term budgetary objective, or if credits obtained in conformity with the point system defined in article 10a are available and taking into account the presence of excessive macroeconomic imbalances, and the budgetary plans laid out in the stability programme do not jeopardise this objective over the programme period.
2011/02/15
Committee: ECON
Amendment 409 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 5
Regulation (EC) No 1466/97
Article 6 – paragraph 3
3. In the event that the significant deviation from prudentsustainable fiscal-policy making persists or is particularly serious, the Council, on a recommendation from the Commission, shall address a recommendation to the Member State concerned to take the necessary adjustment measures. The Council, on a proposal from the Commission, shall make the recommendation public.
2011/02/15
Committee: ECON
Amendment 413 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 6 – subpoint b – subpoint (-i) (new)
Regulation (EC) No 1466/97
Article 7 – paragraph 2 – introductory part
[Current text of A(-i) In article 7(2) the introductory part of Regulation (EC) No 1466/97is replaced by the following: 2. AThe convergence programme shall be established according the principles contained in the Council Directive on requirements for budgetary framework of the Member States and present the following information in particular on variables related to convergence:
2011/02/15
Committee: ECON
Amendment 414 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 6 – subpoint b – subpoint i
Regulation (EC) No 1466/97
Article 7 – paragraph 2 – point a
(a) the medium-term budgetary objective and the adjustment path towards this objective for the general government balance as a percentage of GDP,; the expected path of the general government debt ratio,; the planned growth path of cyclically adjusted government expenditure,; the planned growth path of government revenuecyclically adjusted revenues, net of one-off and other temporary measures at unchanged policy and a quantification of the planned discretionary revenue measures,; the medium-term monetary policy objectives,; the relationship of those objectives to price and exchange rate stability and to the achievement of sustained and real convergence;
2011/02/15
Committee: ECON
Amendment 425 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 6 – subpoint b – subpoint ii
Regulation (EC) No 1466/97
Article 7 – paragraph 2 – point c
(c) a quantitative assessment of the budgetary and other economic policy measures being taken or proposed to achieve the objectives of the programme, comprising a comprehensive cost-benefit analysis of major structural reforms, which have direct long- term cost-saving effects, including by raising potential growth;
2011/02/15
Committee: ECON
Amendment 437 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 6 – subpoint c
Regulation (EC) No 1466/97
Article 7 – paragraph 3
3. The information about the paths for the general government balance and debt ratio, the growth of government expenditure, the planned growth path of government revenue at unchanged policy, the planned discretionary revenue and discretionary measures and the main economic assumptions referred to in paragraph 2(a) and (b) shall be on an annual basis and shall cover the preceding year, the current year and at least the following three years.
2011/02/15
Committee: ECON
Amendment 438 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 7
Regulation (EC) No 1466/97
Article 8 – paragraph – 1 (new)
In article 8 the following paragraph shall be inserted before paragraph 1: -1. Without prejudice of the subsidiarity principle Member States shall consult their national social partners and get approval of their national parliament on their project of Convergence programme.
2011/02/15
Committee: ECON
Amendment 441 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – first subparagraph
Based on assessments by the Commission and the Economic and Financial Committee and the Social Protection Committee, the Council shall, within the framework of multilateral surveillance under Article 121 of the Treaty, examine the medium-term budgetary objectives presented by the Member States concerned, assess whether the economic assumptions on which the programme is based are plausible, whether the adjustment path towards the medium-term budgetary objective is appropriate and whether the measures being taken and/or proposed to respect that adjustment path are sufficient to achieve the medium-term budgetary objective over the cycle and to achieve sustained and real convergence.
2011/02/15
Committee: ECON
Amendment 453 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 2
The Council, when assessing the adjustment path toward the medium-term budgetary objective, shall take into account whether a higher adjustment effort is made in economic good times, whereas the effort mayshall be more limited in economic bad times in consistency with the point system established in article 10a. For Member States with a high level of debt or excessive macroeconomic imbalances or both, the Council shall examine whether the annual improvement of the cyclically- adjusted budget balance, net of one-off and other temporary measures is higher than 0.5% of GDP. For ERM2 Member States, the Council shall examine if the Member State concerned pursues an appropriate annual improvement of its cyclically adjusted balance, net of one-off and other temporary measures, required to meet its medium- term budgetary objective, with 0.5 % of GDP as a benchmark.
2011/02/15
Committee: ECON
Amendment 460 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – paragraph 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 3
With a view to ensuring that the medium- term budgetary objective is effectively achieved and maintained, the Council shall verify that the growth path of government expenditure, taken in conjunction with the effect of the measures being taken or proposed on the revenue side, is consistent with prudentsustainable fiscal-policy making.
2011/02/15
Committee: ECON
Amendment 465 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 8
Fiscal-policy making shall be considered prudentsustainable and thereby conducive to the achievement of the medium-term budgetary objective and its maintenance over time if the following conditions are satisfied:
2011/02/15
Committee: ECON
Amendment 466 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 4 – point a
(a) for Member States that have achieved the medium-term budgetary objective, annual expenditure growth doesgrowth in structural fiscal revenues government cyclically adjusted revenues, net of one-off and other temporary measures will not fall behind the medium growth rate of GDP a ten-year horizon updated at regular intervals , and the growth rate of government expenditure does normally not exceed a prudent medium-term growth rate of GDP growth, unless the excess is matched by discretionary revenue measures;over a ten-year horizon updated at regular intervals.
2011/02/15
Committee: ECON
Amendment 472 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 4 – point b
(b) for Member States that have not yet reached their medium-term budgetary objective, annual expenditure growth does not exceed a rate below a prudent medium-term rate of GDP growth, unless the excess is matched by discretionary revenue measures. The size of the shortfalldiscretionary increases in excess of that norm on expenditure or discretionary reductions in tax revenues are matched by accompanying other discretionary measures, either ofn the growth rate of government expenditure compared to a prudent medium-term rate of GDP growth is set in such a way as to ensure an appropriate adjustment towards the medium-term budgetary objective;side of expenditure and/or on the side of tax revenues.
2011/02/15
Committee: ECON
Amendment 477 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 8
(c) discretionary reductions of government revenue items are matched either by expenditure cuts or by discretionary incresustainable fiscal policy making involves taking proper and explicit account of long term determinants of economic sustainability such as social inclusion, climate change and other environmental externalities and the costs related to the internalization of other negative externalities which represent a burden for future generations. The sustainable medium-term of growth should be asses ised on other government revenue basis of projections over a ten-year horizon updated at regular intems or bothrvals.
2011/02/15
Committee: ECON
Amendment 493 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 6
When defining the adjustment path to the medium-term budgetary objective for Member States that have not yet reached this objective and in allowing a temporary deviation from this objective for Member States that have already reached it, under the condition that an appropriate safety margin with respect to the deficit reference value is preserved and that the budgetary position is expected to return to the medium-term budgetary objective within the programme period, the Council shall take into account the implementation of major structural reforms which have direct long-term cost-saving effects, including by raising sustainable potential growth, and therefore a verifiable impact on the long- term sustainability of public finances.
2011/02/15
Committee: ECON
Amendment 512 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 1 – subparagraph 9
In periods of severe economic downturn of a general nature. Member States may be allowed to temporarily depart from the adjustment path implied by prudentsustainable fiscal- policy making referred to in the fourth subparagraph.
2011/02/15
Committee: ECON
Amendment 516 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 8
Regulation (EC) No 1466/97
Article 9 – paragraph 2
2. The Council shall carry out the examination of the convergence programme within at most three months of the submission of the programme. The Council, on a recommendation from the Commission and after consulting the Economic and Financial Committee and the Social Protection Committee, shall, if necessary, deliver an opinion on the programme. Where the Council, in accordance with Article 121 of the Treaty, considers that the objectives and the content of the programme should be strengthened with particular reference to prudentsustainable fiscal-policy making, the Council shall, in its opinion, invite the Member State concerned to adjust its programme.
2011/02/15
Committee: ECON
Amendment 522 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 9
Regulation (EC) No 1466/97
Article 10 – paragraph 1 – first subparagraph
As part of multilateral surveillance in accordance with Article 121(3) of the Treaty, the Council shall monitor the implementation of convergence programmes, on the basis of information provided by Member States with a derogation and of assessments by the Commission and, the Economic and Financial Committee, and the Social Protection Committee in particular with a view to identifying actual or expected significant divergences of the budgetary position from the medium-term budgetary objective, or from the appropriate adjustment path towards it, ensuing from deviations from prudentsustainable fiscal-policy making.
2011/02/15
Committee: ECON
Amendment 526 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – paragraph 1 – point 9
Regulation (EC) No 1466/97
Article 10 – paragraph 2 – first subparagraph
In the event of a significant deviation from prudentsustainable fiscal-policy making referred to in the fourth subparagraph of Article 9(1) of this Regulation, and in order to prevent the occurrence of an excessive deficit, the Commission, in accordance with Article 121 (4) of the Treaty may address a warning to the Member State concerned.
2011/02/15
Committee: ECON
Amendment 537 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 9
Regulation (EC) No 1466/97
Article 10 – paragraph 2 – subparagraph 2
A deviation from prudentsustainable fiscal policy making shall be considered significant if the following conditions occur: an excess over the expenditure growth consistent with prudentsustainable fiscal policy-making, not offset by discretionary revenue-increasing measures; or discretionary revenue- decreasing measures not offset by reductions in expenditure; and the deviation has a total impact on the government balance of at least 0.5 % of GDP in one single year or of at least 0.25 % of GDP on average per year in two consecutive years.
2011/02/15
Committee: ECON
Amendment 539 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 9
Regulation (EC) No 1466/97
Article 10 – paragraph 2 – subparagraph 3
The deviation shall not be considered if the Member State concerned has significantly overachieved the medium-term budgetary objective, or if credits obtained in conformity with the point system defined in regulation are available taking into account the presence of excessive macroeconomic imbalances, and the budgetary plans laid out in the stability programme do not jeopardise this objective over the programme period.
2011/02/15
Committee: ECON
Amendment 548 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 9
Regulation (EC) No 1466/97
Article 10 – paragraph 3
3. In the event that the significant deviation from prudentsustainable fiscal policy making persists or is particularly serious, the Council, on a recommendation from the Commission, shall address a recommendation to the Member State concerned to take the necessary adjustment measures. The Council, on a proposal from the Commission, shall make the recommendation public.
2011/02/15
Committee: ECON
Amendment 550 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 9 a (new)
Regulation (EC) No 1466/97
Article 10 a (new)
9a. The following article shall be inserted after Article 10: Article 10a A credit system shall be specified by means of delegated acts according to article 10b to 10d. Credits shall be obtained if Member States comply with the sustainable policy making rule as defined in article 5 and over attain annual targets towards the medium term objective. Credits are lost when there is a significant deviation from sustainable fiscal policy making.
2011/02/15
Committee: ECON
Amendment 551 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 9 b (new)
Regulation (EC) No 1466/97
Article 10 b (new)
9b. The following article shall be inserted after Article 10: Article 10b Exercise of the delegation 1. The power to adopt the delegated acts referred to in Articles 2c (new) shall be conferred on the Commission for a period of five years following the entry into force of this Regulation. The Commission shall make a report in respect of the delegated powers not later than six months before the end of the five-year period. The delegation of power shall be automatically extended for periods of an identical duration, unless the European Parliament or the Council revokes it in accordance with Article 4b new. 2. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council. 3. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in Articles 4b new and 4c new.
2011/02/15
Committee: ECON
Amendment 552 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 9 c (new)
Regulation (EC) No 1466/97
Article 10 c (new)
9c. The following article shall be inserted after Article 10: Article 10c Revocation of the delegation 1. The delegation of powers referred to in Articles 3 (4) and 4 (1) may be revoked at any time by the European Parliament or by the Council. 2. The institution which has commenced an internal procedure for deciding whether to revoke the delegation of powers shall endeavour to inform the other institution and the Commission within a reasonable time before the final decision is taken, indicating the delegated powers which could be subject to revocation and possible reasons for a revocation. 3. The decision of revocation shall put an end to the delegation of the powers specified in that decision. It shall take effect immediately or at a later date specified therein. It shall not affect the validity of the delegated acts already in force. It shall be published in the Official Journal of the European Union.
2011/02/15
Committee: ECON
Amendment 553 #
Philippe LAMBERTS
Proposal for a regulation – amending act
Article 1 – point 9 d (new)
Regulation (EC) No 1466/97
Article 10 d (new)
9d. The following article shall be added after Article 10: Article 10d Objections to delegated acts 1. The European Parliament or the Council may object to a delegated act within a period of two months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by two months. 2. If, on expiry of that period, neither the European Parliament nor the Council has objected to the delegated act it shall be published in the Official Journal of the European Union and shall enter into force at the date stated therein. The delegated act may be published in the Official Journal of the European Union and enter into force before the expiry of that period if the European Parliament and the Council have both informed the Commission of their intention not to raise objections 3. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. The institution which objects shall state the reasons for objecting to the delegated act.
2011/02/15
Committee: ECON
Amendment 559 #
Philippe LAMBERTS
Proposal for a regulation
Article 2 – paragraph 1
This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.first of January 2013
2011/02/15
Committee: ECON
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