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ECOFIN: 08 November 2019

Treasury written statement – made on 5th November 2019.

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Photo of Sajid Javid Sajid Javid The Chancellor of the Exchequer

A meeting of the Economic and Financial Affairs Council (ECOFIN) will be held in Brussels on 08 November 2019. The UK will be represented by Mark Bowman (Director General, International Finance, HM Treasury). The Council will discuss the following:

Excise Duties

The Council will be invited to agree the: Directive on general arrangements for excise duty (recast); the Regulation on administrative cooperation of the content of electronic registers; and amendments to the Directive on the structures of excise duty on alcohol.

VAT Data from Payment Service Providers

The Council will be invited to agree a General Approach on amendments to: the Directive on the common system of VAT with regards to requirements for payment service providers; and the Regulation on administrative cooperation in the field of VAT concerning measures to combat VAT fraud.

VAT Treatment for Small Enterprises

The Council will be invited to agree amendments to the Directive on the common system of VAT in regards to the special scheme for small enterprises.

Current Financial Services Legislative Proposals

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

European Central Bank – Executive Board Member

The Council will be invited to adopt a recommendation to the European Council on the appointment of a new member of the Executive Board of the European Central Bank.

Digital Taxation

The Council will be updated on the current state of play of digital taxation and will discuss the way forward.

European Fiscal Board Report

The Council will be presented with the 2019 Annual report of the European Fiscal Board.

EU Statistical Package

The Council will be invited to adopt Council Conclusions on the EU statistical package and to review progress achieved.

Climate Finance

The Council will be invited to adopt Council Conclusions on climate finance for the COP25 climate summit.

Follow-up to International Meetings

The Presidency and Commission will inform the Council of the main outcomes of the G20 meeting of Finance Ministers and Central Bank Governors and the IMF and World Bank Annual meetings held in October 2019.

Stable Coins

As an AOB, the Presidency will inform the Council about a joint statement on stable coins to be agreed at December ECOFIN.

This statement has also been made in the House of Lords: HLWS93