13 Amendments of Isabel BENJUMEA BENJUMEA related to 2023/0137(CNS)
Amendment 68 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) 1467/97
Article 1 – paragraph 2 – point b
Article 1 – paragraph 2 – point b
(b) ‘net expenditure’ means government expenditure net of interest expenditure, discretionary revenue measures and, other budgetary variables outside the control of the government, as defined in Annex II, point (a) of Regulation (EU) of the European Parliament and of the Council [on the preventive arm]*. Costs related to the borrowing of funds for the loans related to the national plans in accordance with the Recovery and Resilience Facility shall be included in the calculation of the net expenditure;
Amendment 91 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 1a
Article 2 – paragraph 1a
1a. When it exceeds the reference value, the ratio of the government debt to gross domestic product (GDP) shall be considered sufficiently diminishing and approaching the reference value at a satisfactory pace in accordance with Article 126(2), point (b), TFEU if the Member State concerned respects its net expenditure path and the control account does not exceed the threshold set in Article 21 of the Regulation (EU) [on the preventive arm].
Amendment 112 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) 1467/97
Article 2 – paragraph 3 – subparagraph 1
Article 2 – paragraph 3 – subparagraph 1
The Commission, when preparing a report under Article 126(3) TFEU, shall take into account as a key relevant factor the degree of debt challenges in the Member State concerned. In particular, where the Member State faces substantial public debt challenges according to the most recent Debt Sustainability Monitor, it shall be considered aone of the key factors leading to the opening of an excessive deficit procedure as a rule.
Amendment 127 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) 1467/97
Article 2 – paragraph 3 – subparagraph 3 – point b
Article 2 – paragraph 3 – subparagraph 3 – point b
(b) the developments in the medium- term budgetary positions, including, in particular, the size of the actual deviation from the net expenditure path, in annual and cumulative terms as measured by the control account, and the extent to which the deviation is due to a severe economic downturn in the euro area or in the Union as a whole or to exceptional circumstances outside the control of the government with a major impact on the public finances of the Member State concerned in accordance with Articles 24 and 25 of Regulation (EU) [on the preventive arm]. Where relevant, the deviation compared to the technical trajectory shall also be taken into account when considering the size of the deviation. To safeguard the counter cyclical properties of the expenditure path, higher than anticipated economic growth, lower than expected interest expenditure, any expenditure and revenue windfalls or favourable stock-flow adjustments in the government debt ratio, relative to the forecasts underlying the net expenditure path, shall not be taken into account as relevant factors when assessing the existence of an excessive deficit based on deviations from the net expenditure path in accordance with paragraph 1a;
Amendment 142 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) 1467/97
Article 2 – paragraph 3 – subparagraph 3 – point d
Article 2 – paragraph 3 – subparagraph 3 – point d
(d) the implementation of reforms and investments including, in particular policies to prevent and correct excessive macroeconomic imbalances and policies to implement the common growth and employment strategy of the Union including those supported by NextGenerationEU, and the overall quality of public finances, in particular the effectiveness of national budgetary frameworks, long-term national strategic investments and public-private partnership investments. Non- implementation of reforms and investments will also be taken into account.
Amendment 144 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) No 1467/97
Article 2 – paragraph 3 – subparagraph 3 – point d a (new)
Article 2 – paragraph 3 – subparagraph 3 – point d a (new)
(da) Where applicable, temporary above average government investment in defence compared to the average over the four-year period before the plan.
Amendment 154 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) 1467/97
Article 2 – paragraph 3a (new)
Article 2 – paragraph 3a (new)
3a. After the Commission´s report referred in paragraph 3, Member State shall have the power, in the observations submitted under Art. 126(6) TFEU, may propose a rectification plan to comply with its net expenditure path.
Amendment 176 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Regulation (EC) 1467/97
Article 2 – paragraph 6
Article 2 – paragraph 6
If the Council, acting under Article 126(6) TFEU, decides that an excessive deficit exists in a Member State, the Council and the Commission shall, in the subsequent procedural steps of that Article of the TFEU, take into account the relevant factors referred to in paragraph 3 and 3a of this Article, as they affect the situation of the Member State concerned, including as specified in Article 5(2) of this Regulation, in particular in establishing a deadline for the correction of the excessive deficit and eventually extending that deadline. However, those relevant factors shall not be taken into account for the decision of the Council under Article 126(12) TFEU on the abrogation of some or all of its decisions under Article 126(6) to (9) and (11) TFEU.’;
Amendment 180 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EC) No 1467/97
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Within two weeks of the adoption by the Commission of a report issued in accordance with Article 126(3) TFEU, the European Fiscal Board shall formulate an opinion as advice to the Commission, the Economic and Financial Committee and the Council. The opinion of the European Fiscal Board shall be made public. Within four weeks of the adoption by the Commission of a report issued in accordance with Article 126(3) TFEU, the Economic and Financial Committee shall formulate an opinion in accordance with Article 126(4) TFEU. The opinion of the Economic and Financial Committee shall be made public.
Amendment 188 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EC) No 1467/97
Article 3 – paragraph 4 – subparagraph 1
Article 3 – paragraph 4 – subparagraph 1
The Council recommendation made in accordance with Article 126(7) TFEU shall establish a maximum deadline of six months for effective action to be taken by the Member State concerned. When warranted by the seriousness of the situation, the deadline for effective action may be three months. The Council recommendation shall also establish a deadline for the correction of the excessive deficit. In its recommendation, the Council shall also request that the Member State implements a corrective net expenditure path, which ensures that the general government deficit remains or is brought and maintained below the reference value and ensures that the value of the control account is brought to zero within the deadline set in the recommendation. For the years when the general government deficit is expected to exceed the reference value, the corrective net expenditure path shall be consistent with a minimum annual adjustment of at least 0,5% of GDP in the structural primary balance as a benchmark.
Amendment 203 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EC) No 1467/97
Article 3 – paragraph 6
Article 3 – paragraph 6
6. Where effective action has been taken in compliance with a recommendation under Article 126(7) TFEU or whereand where Council has established the existence of a severe economic downturn in the euro area or in the Union as a whole in accordance with Article 24 of Regulation (EU) [on the preventive arm] or exceptional circumstances outside the control of the government with a major impact on the public finances of the Member State concerned in accordance with Article 25 of Regulation (EU) [on the preventive arm], including on the respect of the corrective net expenditure path recommended by the Council pursuant to paragraph 4 of this Article, occur after the adoption of that recommendation, the Council may decide, on a recommendation from the Commission, to adopt a revised recommendation under Article 126(7) TFEU. The revised recommendation, taking into account the relevant factors referred to in Article 2(3) of this Regulation may, in particular, extend the deadline for the correction of the excessive deficit by one year as a rule. In case the Council has established the existence of a severe economic downturn in the euro area or in the Union as a whole in accordance with Article 24 of Regulation (EU) [on the preventive arm], the Council may also decide, on a recommendation from the Commission, to adopt a revised recommendation under Article 126(7) TFEU provided that this does not endanger fiscal sustainability in the medium term. The revised recommendation may, in particular, extend the deadline for the correction of the excessive deficit by one year as a rule.;
Amendment 217 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point a
Article 1 – paragraph 1 – point 4 – point a
Regulation (EC) No 1467/97
Article 5 – paragraph 1 – subparagraph 1
Article 5 – paragraph 1 – subparagraph 1
Any Council decision to give notice to the participating Member State concerned to take measures for the deficit reduction in accordance with Article 126(9) TFEU shall be taken within two months of the Council decision under Article 126(8) TFEU establishing that no effective action has been taken. In the notice, the Council shall request that the Member State implements a corrective net expenditure path which ensures that the general government deficit remains or is brought and maintained below the reference value and ensures that the value of the control account is brought to zero within the deadline set in the notice. For the years where the general government deficit is expected to exceed the reference value, the corrective net expenditure path shall be consistent with a minimum annual adjustment of at least 0,5% of GDP as a benchmarkin the structural primary balance as a benchmark. Any potential exclusions from the net expenditure definition regarding to expenditure on co- financing of programmes financed by the Union or costs related to the borrowing of funds for the loans related to the Recovery and Resilience Facility shall not apply to the calculations regarding the 0.5% annual adjustment above.
Amendment 229 #
Proposal for a regulation
Article 1 – paragraph 1 – point 4 – point b
Article 1 – paragraph 1 – point 4 – point b
Regulation (EC) No 1467/97
Article 5 – paragraph 2
Article 5 – paragraph 2
2. Where effective action has been taken in compliance with a notice under Article 126(9) TFEU or whereand where Council has established the existence of a severe economic downturn in the euro area or in the Union as a whole in accordance with Article 24 of Regulation (EU) [on the preventive arm] or exceptional circumstances outside the control of the government with a major impact on the public finances of the Member State concerned, in accordance with Article 25 of Regulation (EU) [on the preventive arm], or unexpected adverse economic events with major unfavourable consequences for government finances including on the respect of the corrective net expenditure path referred to in paragraph 1 of this Article, occur after the adoption of that notice, the Council may decide, on a recommendation from the Commission, to adopt a revised notice under Article 126(9) TFEU. The revised notice, taking into account the relevant factors referred to in Article 2(3) of this Regulation may, in particular, extend the deadline for the correction of the excessive deficit by one year as a rule. In case the Council has established the existence of a severe economic downturn in the euro area or in the Union as a whole in accordance with Article 24 of Regulation (EU) [on the preventive arm], the Council may also decide, on a recommendation from the Commission, to adopt a revised notice under Article 126(9) TFEU, on condition that it does not endanger fiscal sustainability in the medium term. The revised notice may, in particular, extend the deadline for the correction of the excessive deficit by one year as a rule.;