28 Amendments of Bas EICKHOUT related to 2014/0346(COD)
Amendment 50 #
Proposal for a regulation
Recital 2
Recital 2
(2) TAlthough the Treaty does not provide a definition of price stability, the European System of Central Banks (ESCB) uses the HICP as an index in order to measure the achievement of the ESCB's price stability objective under Article 127(1) of the Treaty, which is of particular relevance for the definition and implementation of the monetary policy of the Union under Article 127(2) of the Treaty. In 1998, the ECB Governing Council stated that price stability shall be defined as a year-on-year increase in the Harmonized Index of Consumer Prices (HICP) for the euro area of below 2%. In 2003, the Governing Council agreed that, in the pursuit of price stability, it will aim to maintain inflation rates close to, but below 2%, over the medium-term.
Amendment 51 #
Proposal for a regulation
Recital 3
Recital 3
(3) Council Regulation (EC) No 2494/952 established a common framework for setting up harmonised indices of consumer prices. This legal framework needs to be adapted to current needs and technical progress. In that perspective, it is broadly acknowledged that measuring, analysing and forecasting inflation requires both an improvement in the relevance and comparability of the HICP, as well as monitoring a broader set of supplementary indicators which need to be made available on a harmonised basis in order to ensure comparability at Union and international levels. The HICP framework therefore needs to be improved and supplemented. __________________ 2 Council Regulation (EC) No 2494/95 of 23 October 1995 concerning harmonised indices of consumer prices (OJ L 257, 27.10.1995, p. 1).
Amendment 53 #
Proposal for a regulation
Recital 6
Recital 6
(6) The regular HICPHICP as currently defined are based on observed prices, which also include taxes on products. Hence, inflation is affected by changes to tax rates on products. For inflation analysis and for convergence assessment in Member States, information also needs to be collected on the impact of tax changes on inflation. To this end, HICP should additionally be calculated on the basis of constant tax rate prices.
Amendment 54 #
Proposal for a regulation
Recital 7
Recital 7
(7) Establishing price indices for dwellings and in particular for owner-occupied housing (OOH indices) is an important step towards improving the relevance and comparability of HICP within the Union and at the international level. House price indices are a necessary basis for compiling OOH indices. In addition, house price indices are important indicators in their own right. A specific roadmap should be foreseen for integrating house price indices within the HICP framework.
Amendment 55 #
Proposal for a regulation
Recital 7
Recital 7
(7) Establishing harmonised price indices for dwellings and in particular for owner- occupied housing (OOH indices) and including such indices within the HICP framework is an important step towards improving the relevance and comparability of HICP within the Union, as well as at the international level, as the proportion of owner-occupied housing differs dramatically across and beyond Union Member States. Omitting owner-occupied housing from the HICP will tend to make the indexes incomparable across Member States, thereby biasing the monitoring of key developments within the Union such as competitiveness and, more broadly, macroeconomic imbalances. Moreover, and as has been highlighted during the financial crisis, omitting OOH indices leads to overstating or understating underlying inflationary pressures related to housing bubbles. House price indices are a necessary basis for compiling OOH indices. In addition, house price indices are important indicators in their own right. A specific legally binding roadmap should be foreseen for integrating house price indices within the HICP framework.
Amendment 57 #
Proposal for a regulation
Recital 7 a (new)
Recital 7 a (new)
(7a) The HICP as currently defined are not cost of living indices as they are not intended to be a measure of the change in the minimum cost for achieving the same standard of living from two different consumption patterns realised in the two periods compared, and where factors other than pure price changes may enter the index. However, establishing harmonised cost of living indices should allow the HICP to be supplemented with an important analytical tool for monitoring underlying trends regarding inflation, as medium-term and long-term inflation trends are strongly related to cost of living trends.
Amendment 59 #
Proposal for a regulation
Recital 9
Recital 9
(9) In order to enhance the gradual harmonisation of consumer price indices, pilot studies should be launched to assess the feasibility of using additional basic information or applying new methodological approaches. The Commission should look for appropriate incentives, including financial support, to encourage pilot studies.
Amendment 64 #
Proposal for a regulation
Recital 15
Recital 15
(15) In order to ensure comparability at international level of the classification of individual consumption according to purpose used for the breakdown of the HICP and the HICP-CT, to assure adaptation to changes of UN COICOP, to establish a threshold below which there is no obligation to provide sub-indices of harmonised indices and to establish a list of sub-indices that need not be produced by the Member Statmodify the list of sub-indices of ECOICOP that need not be produced, to extend of the scope of the HICP with a view to including housing prices indices, improved methodology for better relevance and comparability of indices, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the Commission in respect of harmonised indices. It is of particular importance that the Commission carries out appropriate consultations during its preparatory work, including at expert level. The Commission, when preparing and drawing up delegated acts, should ensure simultaneous, timely and appropriate transmission of relevant documents to the European Parliament and the Council.
Amendment 65 #
Proposal for a regulation
Recital 16
Recital 16
(16) In order to ensure full comparability of consumer price indices, uniform conditions are needed for the breakdown of the HICP and the HICP-CT by ECOICOP categories, for the applied methodology in producing harmonised indices, for the information provided by statistical units, for providing weights and metadata on the weights, for the establishment of an annual calendar for the transmission of the harmonised indices and sub-indices, for the data and metadata exchange standards, for the uniform conditions for revisions, for improved basic information or improved methods based on the evaluation of pilot studies and for technical quality assurance requirements regarding the content of annual quality reports, the deadline for providing the report to the Commission (Eurostat) and the structure of the inventory. In order to ensure such uniform conditions for the implementation of this Regulation, implementing powers should be conferred on the Commission. Those powers should be exercised in accordance with Regulation (EU) No 182/2011 of the European Parliament and of the Council.6 __________________ 6 Regulation (EU) No 182/2011 of the European Parliament and of the Council of 16 February 2011 laying down the rules and general principles concerning mechanisms for control by Member States of the Commission’s exercise of implementing powers (OJ L 55, 28.2.2011, p. 13).
Amendment 66 #
Proposal for a regulation
Recital 16
Recital 16
(16) In order to ensure full comparability of consumer price indices, uniform conditions are needed for the breakdown of the HICP and the HICP-CT by ECOICOP categories, for the applied methodology in producing harmonised indices, for the information provided by statistical units, for providing weights and metadata on the weights, for the establishment of an annual calendar for the transmission of the harmonised indices and sub-indices, for the data and metadata exchange standards, for the uniform conditions for revisions, for improved basic information or improved methods based on the evaluation of pilot studies and for technical quality assurance requirements regarding the content of annual quality reports, the deadline for providing the report to the Commission (Eurostat) and the structure of the inventory. In order to ensure such uniform conditions for the implementation of this Regulation, implementing powers should be conferred on the Commission. Those powers should be exercised in accordance with Regulation (EU) No 182/2011 of the European Parliament and of the Council.6 __________________ 6 Regulation (EU) No 182/2011 of the European Parliament and of the Council of 16 February 2011 laying down the rules and general principles concerning mechanisms for control by Member States of the Commission’s exercise of implementing powers (OJ L 55, 28.2.2011, p. 13).
Amendment 68 #
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16a) Some sub-indices of ECOICOP are not produced by all or some of the Member States at this stage, either because they do not cover household final monetary consumption expenditure or because the degree of methodological harmonisation is not yet sufficient. However, it is possible that in the future methodological harmonisation might be achieved allowing the legal framework to be updated in conformity with the provisions of this Regulation.
Amendment 69 #
Proposal for a regulation
Recital 17
Recital 17
(17) In adopting implementing measures and delegated acts in accordance with this Regulation, the Commission should take the utmensure that those implementing measures and delegated acts do not imposte account of cost-effectiveness. significant additional burden on Member States nor on the respondent units other than what is necessary for the purposes of this Regulation, nor change the applicable underlying conceptual framework beyond what is provided for in this Regulation.
Amendment 73 #
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
This Regulation lays down a common framework for the development, production and dissemination of harmonised indices of consumer prices (HICP) and of housing prices (HPI)relevant for monitoring the achievement of objectives of price stability at Union, national and sub-national level.
Amendment 77 #
Proposal for a regulation
Article 2 – paragraph 1 – point j
Article 2 – paragraph 1 – point j
(j) ‘'owner-occupied housing price index (OOH index)' means an index that measures changes in the transaction prices of dwellings new to the household sector and of other products that the households acquire in their role as owner-occupiers or an index that measures imputed rents related to new and existing owner- occupied dwellings or alternatively an index that measures the opportunity costs associated with the use of a dwelling by a household for own purchase;
Amendment 88 #
Proposal for a regulation
Article 3 – paragraph 3
Article 3 – paragraph 3
3. TWithout prejudice to the methodological developments related to the inclusion of OOH within the HICP framework, the HICP and HICP-CT shall be based on the price changes and weights of products included in household final monetary consumption expenditure or, where appropriate, on changes in imputed prices or changes in estimated opportunity costs whenever new methodological approaches are developed in conformity with Article 4 or Article 8.
Amendment 90 #
Proposal for a regulation
Article 3 – paragraph 4 a (new)
Article 3 – paragraph 4 a (new)
4a. OOH indices shall be compiled, where appropriate, for the 10 years preceding the entry into force of this Regulation.
Amendment 93 #
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
1. For HICP or OOHthe harmonised indices to be considered comparable, any difference across countries at all levels of detail shall only reflect differences in price changes or expenditure patterns.
Amendment 98 #
Proposal for a regulation
Article 4 – paragraph 4
Article 4 – paragraph 4
4. In order to ensure uniform conditions, the appropriate methodology for producing comparable of implementation of this Regulation, the appropriate methodology for obtaining basic information required for the compilation of harmonised indices shall be defined by means of implementing acts. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 11(2). Such implementing acts shall concern: i. sampling and representativeness; ii. collection and treatment of prices; iii. replacements and quality adjustment; iv. index compilation; v. revisions; vi. special indices; vi. treatment of products in specific areas.
Amendment 101 #
Proposal for a regulation
Article 4 – paragraph 4 a (new)
Article 4 – paragraph 4 a (new)
4a. Where scientifically supported evolutions of statistical methods based on the pilot studies referred to in Article 8(4a) so require, with a view to the production of harmonised indices, the Commission shall be empowered to amend the first subparagraph of Article 4(4) by means of delegated acts adopted in accordance with Article 10, so as to specify further the list set out therein for which further detail of statistical method is required, provided that such items do not change the scope of the harmonised indices as set out in this Regulation.
Amendment 102 #
Proposal for a regulation
Article 4 – paragraph 4 b (new)
Article 4 – paragraph 4 b (new)
4b. By 28 February 2018, the Commission shall adopt a delegated act in accordance with Article 10 for specifying the methodological requirements necessary for the compilation of the HICP which shall integrate OOH indices.
Amendment 103 #
Proposal for a regulation
Article 4 – paragraph 4 c (new)
Article 4 – paragraph 4 c (new)
4c. The Commission may extend the deadline referred to in paragraph 4b by two years if it assesses that additional time is required in order to adopt the delegated acts referred to therein or it shall propose, where appropriate, a review of this Regulation. The assessment shall be made public and shall explain and compare the methodological options available for such integration.
Amendment 111 #
Proposal for a regulation
Article 5 – paragraph 7
Article 5 – paragraph 7
7. The Commission shall be empowered to adopt delegated acts in accordance with Article 10 in order to establish a list of sub- indices of ECOICOP that need not be produced by the Member States, either because they do not cover privatehousehold final monetary consumption expenditure or because the degree of methodological harmonisation is not sufficient. Whenever the degree of methodological harmonisation improves sufficiently, the Commission shall be empowered to adopt delegated acts in accordance with Article 10 in order to remove one or more sub- indices listed therein and add them to the annex.
Amendment 114 #
Proposal for a regulation
Article 8 – paragraph 1
Article 8 – paragraph 1
1. Whenever improved basic information is required for the compilation of harmonised indices, or when the need for improved or for the compilation of relevant cost of living indices, or when the need for new methodological approaches for improved relevance and international comparability of indices is identified within the methods referred to in Article 4(2)scope of this Regulation, the Commission (Eurostat) may launch pilot studies to be carried out on a voluntary basis by the Member States.
Amendment 117 #
Proposal for a regulation
Article 8 – paragraph 1 a (new)
Article 8 – paragraph 1 a (new)
1a. The general budget of the Union shall, where appropriate, contribute to the financing of pilot studies.
Amendment 120 #
Proposal for a regulation
Article 8 – paragraph 4
Article 8 – paragraph 4
4. Based on the evaluation of the pilot studies, improved basic information or improved methods for obtaining basic information required for the compilation of harmonised indices shall be introduced by means of implementing acts. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 11(2).
Amendment 123 #
Proposal for a regulation
Article 8 – paragraph 4 a (new)
Article 8 – paragraph 4 a (new)
4a. Based on the evaluation of the pilot studies, improved methodological approaches required for producing more relevant and internationally comparable harmonised indices shall be introduced by means of delegated acts. Those delegated acts shall be adopted in accordance with the procedure referred to in Article 10.
Amendment 124 #
Proposal for a regulation
Article 8 – paragraph 4 b (new)
Article 8 – paragraph 4 b (new)
4b. By 31 December 2020 and every five years thereafter, the Commission (Eurostat) shall prepare a report to the European Parliament and the Council evaluating the main results of the pilot studies.
Amendment 126 #
Proposal for a regulation
Article 10 – paragraph 5 a (new)
Article 10 – paragraph 5 a (new)
5a. When a delegated act is delivered just before or during a public holiday, the time shall be deemed to run from the date of the first full plenary part-session of the European Parliament following the public holiday. In all cases, the period shall be able to be extended to encompass three full plenary part-sessions.