Activities of Evelyn REGNER related to 2020/2075(INI)
Legal basis opinions (0)
Amendments (28)
Amendment 21 #
Motion for a resolution
Recital A (new)
Recital A (new)
A. whereas the challenge of the dual transformation (climate protection and digitalisation) requires additional annual public investment in the three digit billion range, which cannot be provided for under current fiscal policy; whereas in both public and private sector investment was already clearly insufficient before the crisis, despite historically low interest rates;
Amendment 51 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Welcomes the Commission communication of 3 March 2021 entitled ‘One year since the outbreak of COVID- 19: fiscal policy response’ and takes note of the proposed conditions for deactivating the general escape clause (GEC); highlights that deactivation of the GEC should be conditional upon the health, social and economic situation across Member States in order to ensure that fiscal support is provided for as long as needed; Recalls that a continued strong fiscal stimulus is needed to support recovery;
Amendment 97 #
Motion for a resolution
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Calls for fiscal policy to enhance the capacity of our economies, not to hold them back. Stresses that the fiscal framework must support the objectives of full employment and environmental protection set out in the EU Treaty;
Amendment 142 #
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Stresses that national fiscal policies, together with Community policies, will be decisive in achieving the social, carbon neutrality and environmental protection objectives, in particular those relating to biodiversity; to this end, national budgetary policies, public spending and taxation, must support public policies in the key sectors of the transition, namely renewable energies, mobility and freight, thermal insulation of buildings, agriculture, the circular economy, and the industrial sectors that emit the most greenhouse gases;
Amendment 143 #
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8b. Recalls the European Union's commitments and responsibility in the global fight against climate change; recalls that climate change is already having serious social, economic and fiscal consequences; stresses that failure to combat climate change would only worsen these consequences and could lead to catastrophic and irreversible scenarios;
Amendment 174 #
Motion for a resolution
Paragraph 11 a (new)
Paragraph 11 a (new)
11a. Notes that some Member States will have, also as result of the pandemic, significantly higher debt levels than 60% of their GDP, and that meeting the commitment enshrined in the Stability and Growth Pact to reduce their debt to the level of 60% of GDP within 20 years would result in an irresponsible worsening of the economic crisis in these countries; considers that for the highly indebted countries it is insufficient to extend the adjustment period, because in this case, the economic crisis is likely to worsen and be prolonged;
Amendment 175 #
Motion for a resolution
Paragraph 11 b (new)
Paragraph 11 b (new)
11b. Calls for a permanent suspension of the debt target of 60% of GDP and for a distinction to be made in the fiscal policy framework between rules on old debt and rules on new debt; in this context, calls on the Commission to submit a separate proposal on how to proceed with old debt;
Amendment 236 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls for the renewed fiscal framework to promote sustainability and cyclical stabilisation and to improve the quality of public expenditure through sustainable investments and reforms; calls for well-defined, transparent, simple, and flexible and enforceable rulerules or standards embedded in a credible and democratic framework that take into account the specificities of Member States and promote upward economic and social convergence and a transition to a sustainable economy; calls for these rules or standards to be made operational and enforceable through specific medium-term targets set jointly by the European Commission and the Member States; seeks ownership of the discussion by Member States through policy debate at national level; seeking therefore that national budgets are verified by national Independent Fiscal Institutions, with assistance of the European Fiscal Board;
Amendment 237 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls for the renewed fiscal framework to promote sustainability and cyclical stabilisation and to improve the quality of public exspenditure through sustainable investments and reformsng by supporting sectoral policies geared to the objectives of transforming the European economy toward social justice and the ecological transition ; calls for well-defined, transparent, simple, flexible and enforceable rules embedded in a credible and democratic framework that take into account the specificities of Member States and promote upward economic and social convergence;
Amendment 242 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Calls for the renewed fiscal framework to promote sustainability and cyclical stabilisation and to improve the quality of public expenditure through sustainable investments and reformwithin a broader economic, social and environmental policy framework to promote not only fiscal sustainability and cyclical stabilisation but also the sustainable development of well-being of its peoples; calls for well-defined, transparent, simple, flexible and enforceable rules embedded in a credible and democratic framework that take into account the specificities of Member States and promote upward economic and social convergence;
Amendment 251 #
Motion for a resolution
Paragraph 16 b (new)
Paragraph 16 b (new)
16b. Notes that while the EU’s macroeconomic framework is build up around the concept of GDP, a reform should move away from only using GDP as a key indicator and instead put factors such as economic equality and sustainability of the economy at the centre;
Amendment 257 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Suggests focusing the fiscal targets on the achievement of a single credible debt anchor aimed at reducing high debt ratios in a realistic and reasonable period of time and differentiated according to the existing debt leveldegree of debt sustainability of the Member States;
Amendment 258 #
Motion for a resolution
Paragraph 17
Paragraph 17
17. Suggests focusing the fiscal targets on the achievement of a single credible debt anchor aimed at reducing high debt ratiosreducing debt ratios much above the EMU average in a realistic and reasonable period of time and differentiated according to the existing debt level of the Member States;
Amendment 266 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Proposes an expenditure rule with a ceiling20 on nominal public expenditure when a country’s public debt exceeds a certain thresholdis no longer seen as sustainable with a high probability; _________________ 20 A ceiling fixed for 3-5 years that would depend on the expected potential output growth, expected inflation and the distance from the debt anchor.
Amendment 271 #
Motion for a resolution
Paragraph 19
Paragraph 19
19. Notes that the country-specific path outcome should result from a discussion between each Member State and the Commission, after a consultation with the EFB in the context of the European Semester; conside, taking into account in particular a set of indicators tchat the expenditure rule should also include a correction mechanism to remove cyclical itemracterising employment and the risks of underemployment, the level of activity and investment, the risk of price deflation or an acceleration of inflation and the pressures on natural resources;
Amendment 280 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Underlines that expenditure rules allow for automatic stabilisers to operate and are under the direct control of the government; argues that while potential output growth is unobservable and has to be estimated, it is less likely to be subject to revisions than the output gapStresses the importance of automatic stabilisers in the face of rising uncertainties; calls on the Member States to strengthen these stabilisers, in order to better protect the most vulnerable in future crises;
Amendment 297 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Shares the EFB’s opinion thatassumption of modern accounting suystainable growth-enhancing public investments should be exempt from the expenditure rule, in particular those investments that are aligned with the EU’s long-term objectives of the NGEUems and public sector economists that the expenditure rule should include only the depreciation of public capital, not gross public investment;
Amendment 300 #
Motion for a resolution
Paragraph 22
Paragraph 22
22. Shares the EFB’s opinion that sustainable growth-enhancing publicpublic expenditures and investments, specifically environment and biodiversity protection investments, should be exempt from the expenditure rule, in particular those investments that are aligned with the EU’s long-term objectives of the NGEU; and that lower sustainability-related fiscal risks ;stresses that stabilising this category of public spending will make a significant contribution to stabilising private investors' expectations and commitment to transforming the economy;
Amendment 305 #
Motion for a resolution
Paragraph 22 a (new)
Paragraph 22 a (new)
22a. Underlines that not just the quantity but also the quality of public expenditure is essential in determining the sustainability of public finances; highlights that investments in creating an environmentally and socially sustainable economy improve the country’s long-term debt sustainability; wishes to see such expenditures stimulated at all levels of the EU economic framework; calls also for independent assessment of investment programmes through social a cost-benefit analysis by IFIs based on a broad concept of wellbeing;
Amendment 312 #
Motion for a resolution
Paragraph 23
Paragraph 23
23. Stresses that governments’ revenues are essential to guarantee the sustainability of public finances; as well as to finance the post-pandemic recovery, restoring the EU's sustainable competitiveness and to support the just transition to a sustainable economy; considers it therefore necessary to subject the level of taxes and duties in the Member States to greater European coordination inter alia to avoid competition to lower taxes; believes that Member States must ensure through their tax policies that there is no reduction in government revenues if debt rules are not respected; recalls that tax evasion and tax avoidance at EU level amount to up to EUR 160-190 billion each year, constituting missing revenues for the treasuries; therefore, calls on the Member States to take action to tackle tax fraud, tax avoidance, and tax evasion, as well as money laundering;
Amendment 322 #
Motion for a resolution
Paragraph 23 a (new)
Paragraph 23 a (new)
23a. Calls for the creation of an Anti- Tax Haven Pact to be integrated in the European semester, with the effect that the EU Commission assesses the tax rules of the Member States on an annual basis and gives country specific recommendations for how to reform the tax rules in the case a Member State facilitates harmful tax practices;
Amendment 344 #
Motion for a resolution
Paragraph 25 a (new)
Paragraph 25 a (new)
25a. Calls for the establishment of an EU Investment Fund of 1% of EU GDP per year, financed by EU borrowing in analogy to the Recovery Fund and an increase of the EU's own resources, with the objective of providing funding for investments in the digital and climate- neutral transformation in the Member States;
Amendment 351 #
Motion for a resolution
Paragraph 26
Paragraph 26
26. Stresses the limportance of the MIP initations of the MIP to promote a balanced economic policy geared towards the sustainable development of well-being. Although it is important to identifying and takinge preventive and corrective actions against emerging imbalances; points out, however, that the potential of this mechanism has not been fully exploited on account of its structural weaknesses, this exercise must be done in a balanced economic, social and environmental perspective;
Amendment 370 #
Motion for a resolution
Paragraph 27
Paragraph 27
27. Calls for the MIP to be profoundly reformed to make itsassess imbalances to the sustainable development of well-being. Within the macroeconomic developments in a narrower sense, indicators and recommendations should be more forward- looking and symmetrical with regard to over- and undershooting target values, and to focus on indicators under the control of policymakers and geared towards reducing intra-euro area imbalances; considers that greater compliance with pared-back recommendations must be achieved and MIP-relevant country-specific recommendations should focus on policy actions that can have a direct impact on imbalances;
Amendment 378 #
Motion for a resolution
Paragraph 28
Paragraph 28
28. Considers that clarity and consistency concerning the interplay between the sustainable development of well-being, the MIP and the Stability and Growth Pact, with a priority to the former, is key to ensuring that their objectives are achieved;
Amendment 395 #
Motion for a resolution
Paragraph 30
Paragraph 30
30. Calls for a renewed European Semester as the main economic and social policy coordination framework supporting the EU’s long-standing goals of sustainability and upward convergence with stronger national ownership; calls for this renewed European Semester to build stronger bridges with environmental governance processes (such as Governance of the Energy Union and Climate Action) and the European Pillar of Social Rights, to favour related expenditures and reforms; calls for more rigorous democratic scrutiny and for Parliament’s full involvement in defining the overarching goals and the guidance;
Amendment 415 #
Motion for a resolution
Paragraph 32
Paragraph 32
32. Calls for more involvement of national productivity councils in the MIP, which should broaden their scope to the sustainable development of well-being, in the European Semester process;
Amendment 424 #
Motion for a resolution
Paragraph 33
Paragraph 33
33. Underlines that for better enforcement the right balance should be sought between peer support, peer pressure, financial benefits and financial consequencesresults deliberative processes should be enforced. Targets should be set and monitored for each indicator and deviations should trigger a broad debate based on detailed analysis of next steps within the European Semester;