EU economic and finance ministers will debate the economic recovery in Europe, VAT issues and the state of play of the banking union. They will also exchange views on financial services and fiscal sustainability and focus on the European Semester 2021.
Ministers will exchange views on the implementation of the Recovery and Resilience Facility (RRF). The RRF lies at the heart of the EU’s Next Generation EU recovery plan. It will make €672.5 billion in grants and loans available for public investment and reforms in the member states to help them address the impact of the COVID-19 pandemic, to foster the green and digital transitions and to build resilient and inclusive societies.
Value-added tax (VAT)
Ministers will hold a policy debate on VAT rates. They will also discuss VAT exemption to facilitate measures taken at Union level in the public interest, in particular where the EU is acting on a mandate to buy goods and services in order to distribute them free of charge to member states according to their emergency needs. The Commission presented the ‘buy and donate’ proposal in April 2021.
The Council will take note of the progress report on strengthening the banking union.
The presidency will inform ministers about the state of play of financial services legislative proposals.
Ministers will aim to adopt a recommendation on the implementation of the Stability and Growth Pact, that consists of a set of rules for the coordination of national fiscal policies in the EU. They are also expected to adopt recommendations on the updated stability or convergence programmes of the member states in the framework of the European Semester 2021.
The Council is expected to approve conclusions on 2021 age-related spending.
Ministers are also expected to approve terms of reference for the meeting of the G20 finance ministers and central bank governors that will take place from 7 to 10 July 2021.
- Meeting n°3803
- 18 June 2021