Downing Street Says » European Council

Asked for the Prime Minister’s views on letting the EU vet countries Budgets and a proposed transaction tax, the PMS said that the Government had been clear on the vetting of Budgets. There was a process of multi-lateral scrutiny of economic policy of different member states and that would continue, but it would not be the case that the EU would see Budgets before Parliament did.

The PMS said that on proposals for a transaction tax, the Coalition Agreement had set out the Government’s position on this; it was in favour of a bank levy, which was slightly different conceptually to a transaction tax. However, the Government thought there was increasing international support for a bank levy.

Asked whether the Prime Minister agreed with the French Government that any special measures to secure the Euro should be Eurozone measures, the PMS replied that issues around the Euro were issues for Eurozone members.

Put that there were proposals on the economic stability of the whole of the European Union rather than just the Eurozone, the PMS said that it was important to remember that there had been one discussion on this at Ecofin, This would be the first discussion on this by leaders. We were not in a position where there were definitive proposals or where there would be decisions taken tomorrow.

When asked about the possibility of Treaty changes in the light of comments made by President Sarkozy, the PMS said treaty changes were not on the table. The Government had been clear that it would not do anything that would see the transfer of powers from Westminster to Brussels.

Asked if he was suggesting that because there was no definitive proposal on the table, the Government did not have a position, the PMS said that he was not saying that. The PMS added that matters about the Euro were for Eurozone members. There was a wider issue about fiscal policy, where there were shared challenges across the European Union and lots of countries were having to deal with similar issues to those in the UK.

Asked what the Government’s view would be if Germany were to put proposals on the table, the PMS replied that anything that would involve any transfer of power from Westminster to Brussels was not something we would be prepared to consider.

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» Wednesday, June 16, 2010

European Council

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