EU: Reform — Question

Part of the debate – in the House of Lords at 11:21 am on 16th May 2013.

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Photo of Lord Wallace of Saltaire Lord Wallace of Saltaire Lords Spokesperson (Cabinet Office), Lord in Waiting (HM Household) (Whip) 11:21 am, 16th May 2013

My Lords, the agenda for the forthcoming European Council on 22 May is tax, energy and an update on economic and monetary union. Our objective will be to secure EU support for a G8 commitment to a new global standard for tax and the multilateral automatic exchange of information on tax. We will also aim to secure agreement for a stable energy policy framework that provides growth, competitiveness and investment. The Prime Minister and the Deputy Prime Minister have both been clear that the EU needs reform. The UK will continue to argue for reforms to ensure that the EU can better tackle the challenges it faces.

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I J
Posted on 17 May 2013 11:37 am (Report this annotation)

The multilateral exchange of information on tax? Luxembourg and Austria are exempted until Andorra, Liechtenstein, Monaco, San Marino and Switzerland agree to this as well - according to EU Observer. How serious will be the attempt to change the rules? Parliament condemns regulatory arbitrage in finance elsewhere in the world, while encouraging it itself.