Informal ECOFIN 5-6 April

Lord Hammond of Runnymede Excerpts

Tuesday 23rd April 2019 Written Statements

[The Chancellor of the Exchequer (Mr Philip Hammond)]

An informal meeting of Economic and Financial Affairs (ECOFIN) Ministers was held in Bucharest on 5-6 April 2019. Ministers discussed the following:

Working lunch—multiannual financial framework

Ministers discussed the multiannual finance framework in the context of the European semester and financing of the EU budget.

Working session I

Central bank governors joined for the first working session.

a) Institutional cycle priorities

Following a presentation from Bruegel, Ministers and central bank governors discussed priorities for the next EU institutional cycle.

b) Capital markets union

Ministers and central bank governors then discussed the way forward for the capital markets union.

Working session II

a) Labour mobility in the EU

Following a presentation from the Centre for European Policy Studies, Ministers discussed the macroeconomic and fiscal impact of labour mobility in the EU.

b) Taxation and economic growth

Ministers discussed the role of taxation in supporting EU economic growth.

c) Preparation of the April G20 and IMF meetings

Ministers approved the EU terms of reference for the G20 meeting and international monetary and financial committee statement, ahead of the Spring meetings of the World Bank Group and the International Monetary Fund in Washington DC.

[HCWS1515]