Luxembourg, 04/06/2002 (Agence Europe) - The Ecofin Council, which met under the chairmanship of Spanish Minister Rodrigo Rato, adopted conclusions on the progress in work on the "tax package", which is to be adopted before the end of the year. It mainly calls on Switzerland to initiate negotiations on savings tax without delay, and the Council president addressed a letter along these lines to the Swiss authorities. Commissioner Bolkestein pointed out that he was ready to go to Bern on 18 June, if the Council does effectively adopt the negotiating briefs for the other negotiating chapters, a condition set by Switzerland before it will open negotiations on savings tax. The Netherlands and the United Kingdom pointed out for their part that negotiations with the Caribbean territories and the Channel Islands were practically at an end and that the end-of-year deadline should be kept as far as they are concerned.
The Council's headway on the "prospectus" directive gives us hope that it will indeed be adopted at the end of the year, as requested at the Barcelona Summit, said Frits Bolkestein. Ministers did not, however, move forward concerning energy taxation. The United Kingdom and German in particular opposed the broad lines proposed by the Spanish Presidency. France forwarded a letter to Commissioner Bolkestein on the occasion of the Council to call for authorisation to apply a reduced rate of VAT to catering services. EUROPE will come back with details.