EU: Finance Regulation
Latest
Question
Asked by Lord Pearson of Rannoch
To ask Her Majesty's Government, further to the Written Answer by Lord Sassoon on 5 July (WA 39-40), what powers they have agreed to give to European institutions regarding surveillance and control over public finances.[HL1213]
The Commercial Secretary to the Treasury (Lord Sassoon): The work of the EU Economic Taskforce is continuing. The taskforce will make its final report, with recommendations, in time for the European Council on 28 and 29 October.
At the first meeting of the taskforce on 21 May, the Chancellor stated that the Government will not support any measures that would undermine the role of national Parliaments in setting budgets. As is the established policy, we will not submit the UK Budget to the EU before it has been debated and agreed in Parliament.
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