ECOFIN: 7 November 2017

HM Treasury written statement – made on 7th November 2017.

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Photo of Elizabeth Truss Elizabeth Truss The Chief Secretary to the Treasury

A meeting of the Economic and Financial Affairs Council (ECOFIN) will be held in Brussels on 07 November. EU Finance Ministers will discuss the following items:

European Free Trade Association (EFTA) dialogue

Ministers will have their annual meeting with representatives from the EFTA group of countries, to exchange views on how best to make economic growth inclusive.

Early Morning Session

The Eurogroup President will brief Ministers on the outcomes of the 06 November meeting of the Eurogroup, and the Commission will provide an update on the current economic situation in the EU. Ministers will also discuss the EU’s common candidate for the position of Secretary General of the World Customs Organisation.

VAT e-commerce package

Ministers will consider various items which make up the VAT legislative package, including Council Regulation.

Review of the European System of Financial Supervision

The Commission will present to Ministers its legislative proposals on Financial Supervision, followed by an exchange of views.

Current financial services legislative proposals

The Council Presidency will provide an update on current legislative proposals in the field of financial services.


The Commission will present its proposals on resolving existing non-performing loans, preventing the build-up of future non-performing loans and measures to increase the efficiency of the general insolvency framework in Member States.

Follow-up to the G20 Meeting of Finance Ministers and Central Bank Governors and of the IMF Annual Meetings in Washington

Minsters will receive information from the Presidency and the Commission on the outcomes of the 12-15 October G20 and IMF meetings.

European Court of Auditors’ annual report

The President of the Court of Auditors will present the Auditors’ report on the implementation of the budget of the European Union for the 2016 financial year.

Statistical package

The Council will discuss the autumn statistical package, review progress achieved and exchange views on the prospects for European cooperation on statistics. Ministers will also be invited to adopt Council conclusions.

This statement has also been made in the House of Lords: HLWS229