The European Union Finance Ministers, meeting in the ‘Ecofin’ Council on Tuesday 9 July, will discuss EU resources for the 2021-2027 multiannual financial framework and the priorities of the Finnish Presidency of the EU Council and will adopt the European Council recommendation for the appointment of Christine Lagarde as President of the European Central Bank (ECB) and the Country Specific Recommendations as part of the ‘European Semester’ budget process.
After a working breakfast partly devoted to this issue, the EU Economy and Finance Ministers will publicly discuss new revenue for the EU budget of the 2021-2027 Multiannual Financial Framework (MFF).
At the end of June, the Commission sent an informal document on potential new sources of revenue for the EU budget (see EUROPE 12288/8). It proposed various options: - a national contribution based on the volume of non-recycled plastic packaging waste; - 20% of the revenue generated by the emissions trading scheme; and - a share of the new Common Consolidated Corporate Tax Base (CCCTB).
“There has not been sufficient support at the technical level for any of these options, but discussions continue”, said a diplomatic source on Monday 8 July. The option that garnered the most support was the ‘plastic tax’.
On Tuesday, the ministers will consider other potential revenue. According to another European source, the idea promoted by the Netherlands to tax emissions from the aviation sector could be one (see EUROPE 12281/20). In addition, at the request of the Dutch delegation, the latter will provide the major financial policymakers with the conclusions from the conference on air transport taxation (see EUROPE 12283/11) held in The Hague (Netherlands) on 20 and 21 June.
The October European Council will include an exchange of views on the next MFF: the Finnish Presidency hopes that an agreement on the MFF can be reached by the end of 2019.
Priorities during Finland's Presidency of the EU Council. The European Union's major financial policymakers will also discuss the political priorities of the Finnish Presidency of the Council of the European Union for the second half of the year, after a brief presentation by the Finnish Minister.
ECB. In addition, they will discuss the appointment of Christine Lagarde, the current Managing Director of the International Monetary Fund, as President of the ECB on 1 November, to succeed Italian Mario Draghi.
The Heads of State or Government agreed on Mrs Lagarde’s appointment during the delicate negotiations over the European Union's high offices on Tuesday 2 July (see EUROPE 12287/1).
The ‘Ecofin’ Council must now adopt a formal recommendation to this effect, so that the European Council can take a final decision.
European semester. In addition, EU Finance Ministers will adopt the Country Specific Recommendations, thus concluding the 2019 financial year of the ‘European Semester’. These recommendations will be based on the recommendations of the European Commission of 5 June last (see EUROPE 12269/2). (Original version in French by Lionel Changeur, Lucas Tripoteau and Mathieu Bion)