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The Chancellor of the Exchequer (Mr Philip Hammond)
A meeting of the Economic and Financial Affairs Council (ECOFIN) was held in Brussels on 13 July 2018. EU Finance Ministers discussed the following:
Early morning session
The Eurogroup President briefed the Council on the outcomes of the 12 July meeting of the Eurogroup, and the European Commission provided an update on the current economic situation in the EU.
VAT: generalised reverse charge mechanism and e-publications
The Council held an exchange of views on proposals to allow member states to temporarily apply a VAT generalised reverse charge mechanism, and proposals to allow member states to apply non-standard rates of VAT to e-publications.
Current financial services legislative proposals
The Austrian presidency provided an update on current legislative proposals in the field of financial services.
Presidency work programme
The Austrian presidency presented its work programme on economic and financial matters for July to December 2018. This was followed by an exchange of views.
June European Council follow-up
The Council held an exchange of views on the follow-up to the European Council of 28 and 29 June 2018.
G20 meeting
The Council approved the EU terms of reference for the G20 meeting of Finance Ministers in Buenos Aires on 21 and 22 July.
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