Activities of Johan VAN OVERTVELDT related to 2022/2150(INI)
Plenary speeches (1)
European Semester for economic policy coordination 2023 - European Semester for economic policy coordination: Employment and social priorities for 2023 (debate)
Shadow reports (1)
REPORT on the European Semester for economic policy coordination 2023
Amendments (21)
Amendment 10 #
Motion for a resolution
Recital B
Recital B
B. whereas the EU labour market has proved particularly resilient, with an additional two million people in employment, leading to a record low unemployment rate of 6.2 % in 2022, yet significant geographic differences remain; whereas according to the Commission’s autumn economic forecast the public sector was a key contributor to the increase in employment; whereas despite labour market tightness wage growth has remained moderate; whereas the unemployment rate is expected to increase slightly in 2023 (6.5 %), before marginally coming down again in 2024 (6.2 %);
Amendment 17 #
Motion for a resolution
Recital C
Recital C
C. whereas according to the annual sustainable growth survey, inflation should peak at 10.7 % in 2022 and then gradually decrease to 7.0 % in 2023 and 3 % in 2024; whereas wage growth is expected to only partially mitigate losses in real incomes, without triggering a persistent feedback loop between wages and inflation; whereas inflation was initially mostly fueled by energy prices, it now has a broader base with rising core inflation numbers;
Amendment 21 #
Motion for a resolution
Recital D
Recital D
D. whereas according to the Commission’s autumn forecast, the debt- to-GDP ratio is expected to fall to 86 % in the EU at the end of 2022 (94 % in the euro area) from the historically high level of 91.5 % recorded in 2020 (99 % in the euro area); whereas the debt-to-GDP ratio is expected to decline marginally in the EU to around 85 % in 2023 and 84 % in 2024 (92 % and 91 % in the euro area); whereas these unprecedented levels of public debt may represent a drag on the recovery, pose greater risk of a fiscal crisis and lead to large tax hikes;
Amendment 34 #
Motion for a resolution
Recital D a (new)
Recital D a (new)
D a. whereas fiscal consolidation with the clear intention of lowering the deficit and public debt must remain a priority of the Member States;
Amendment 35 #
Motion for a resolution
Recital D b (new)
Recital D b (new)
D b. whereas full and unambiguous enforcement of the fiscal rules by the Commission is necessary for their succesful implementation by the Member States;
Amendment 36 #
Motion for a resolution
Recital D c (new)
Recital D c (new)
D c. whereas the EU's low productivity and global competitiveness require urgent structural, growth enhancing reforms, well targeted investments in future proof infrastructure and the return to fiscal discipline;
Amendment 43 #
Motion for a resolution
Paragraph 1
Paragraph 1
1. Is concerned that the EU is one of the most exposed advanced economies to downward risks, given its geographical proximity to Ukraine and heavy reliance on gasenergy imports, especially on gas from Russia; notes that the impact of high energy prices and inflation leads to the erosion of household purchasing power and industry competitiveness; highlights that a reduction in aggregate demand, combined with less favourable financing conditions, could lead to a sharp decline in investment and therefore in economic growth;
Amendment 61 #
Motion for a resolution
Paragraph 2
Paragraph 2
2. Stresses that while the primary objective of the European Central Bank (ECB) is to maintain price stability, whereas the primary objective of the Union as a whole should be to minimise the impact of current turbulences on the real economy, thereby defending the wellbeing of its citizens and preserving its production structure and the international competitiveness of its companies; underlines, in this regard, the importance of adequate and coordinated fiscal, structural and regulatory policies and reforms that complement the ECB’s monetary policy actions, which are also capable of supporting household incomes and providing targeted support to companies suffering from supply bottlenecks and high energy costs;
Amendment 73 #
Motion for a resolution
Paragraph 3 a (new)
Paragraph 3 a (new)
3 a. Is concerned about the current public debt levels in the Member States and the macro-economic risks these debt levels entail; points out that these debt levels can only be sustained by sufficient economic growth and fiscal discipline;
Amendment 74 #
3 b. Remains concerned about the low productivity growth in the EU;
Amendment 75 #
Motion for a resolution
Paragraph 3 c (new)
Paragraph 3 c (new)
3 c. Recalls that growth-friendly structural reforms do not require fiscal space, but rather political, legislative and administrative efforts aimed at strengthening efficiency of the public sector, market forces and private sector initiatives;
Amendment 76 #
Motion for a resolution
Paragraph 3 d (new)
Paragraph 3 d (new)
3 d. Strongly believes that greater European energy self-sufficiency, diversification of energy sources, enhanced intra-European energy connections and policies based on technology neutrality would strengthen the EU economy;
Amendment 104 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Highlights the key role being played by the NRRPs in driving the Member States’ reform and investment agendas; recalls the absolute importance of reforms in bolstering recovery and future productivity growth and as enablers of investment; stresses the crucial role of especially private investments in boosting growth;
Amendment 117 #
Motion for a resolution
Paragraph 7 – point b
Paragraph 7 – point b
(b) thorough monitoring by the European Parliament, ensuring the open, transparent and democratic scrutiny of the RRF’s implementation; paying particular attention to the provisions concerning measures to protect RRF resources from fraud, corruption, conflicts of interest and double funding;
Amendment 121 #
Motion for a resolution
Paragraph 7 – subparagraph 1
Paragraph 7 – subparagraph 1
Amendment 137 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Welcomes the publication of the Commission’s communication on orientations for a reform of the EU economic governance framework; expresses concern about its delay; stresses the need to adopt legislative proposals before time runs out and the general escape clause is removed and the current legislature comes to an endlooks forward to legislative proposals; underlines that the effectiveness of every framework depends on its proper enforcement;
Amendment 147 #
Motion for a resolution
Paragraph 10
Paragraph 10
10. Agrees with the Commission’s orientations as regard the simplification of the framework, differences in Member States’ debt reduction paths, the use of a comprehensive debt sustainability analysis and the general escape clauses;
Amendment 162 #
11. Notes the aim to stimulate investment and reforms by allowing Member States to have different debt reduction paths, provided that these enhance growth, improve debt sustainability, effectively lead to lower debt levels and are in line with the EU’s objectives, in particular those of the green and digital transition and social resilience; warns however that the possibility of different debt reduction plans should not come at the dispense of the predictability of the legal framework and must by no means lead to the unequal enforcement of that framework;
Amendment 190 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Notes that while monetary policy is conceived and designed as a single instrument, the overall fiscal policy is the result of aggregating 19 individual fiscal policies; underlinnotes that, apart from the recommendation on the economic policy of the euro area, coordination of actions has thus far been limited and the situation and challenges of the euro area have not been easy to factor in; highlightobserves that it is still largely random if the aggregation of national fiscal policies results in a euro area fiscal stance which is appropriate and consistent with monetary policy; regrets that the Commission’s communication does not encompass rules or instruments that allow for the management of the euro area fiscal stance;
Amendment 202 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Welcomes that lessons have been learned from the RRF process by promoting more ownership of ways of putting Member States in charge of designing their own national plans combining fiscal, reform and investment commitments within a common EU framework; greatly regrets that, unlike the RRF, the European Parliament is excluded from defining the overarching goals, guidance, criteria for the debt reduction path, investments, reforms and the underlying assumptions on which the comprehensive debt sustainability analysis is based; regrets that neither the involvement of national parliaments nor that of national stakeholders and civil society isis not mentioned under project design, implementation or subsequent scrutiny, which sets back ownership and democratic accountability;
Amendment 222 #
Motion for a resolution
Paragraph 14 a (new)
Paragraph 14 a (new)
14 a. Asks for the necessary respect for the principles of subsidiarity and proportionality; stresses that in line with the Treaties, Member States must continue to have sufficient flexibility in implementing an appropriate social policy and remain sovereign over their tax policy;