New provisions to allow more investments and to increase national ownership of plans
On Wednesday, MEPs decided to open talks with Council on new economic governance rules, prioritising investment and national ownership and improving the system’s credibility.

The text, adopted by MEPs with 431 votes in favour, 172 against and 4 abstentions, constitutes Parliament’s mandate for negotiations with member states on the final shape of the law, which will start today at 13.00. It replaces the regulation on multilateral budgetary surveillance, the so-called ‘preventive arm of the Stability and Growth Pact’ and contains substantial changes to the Commission’s original proposal. The mandate was prepared by the co-rapporteurs Esther De Lange (EPP, NL) and Margarida Marques (S&D, PT). Find further information on the negotiation mandate here.

During the debate on Wednesday, Ms De Lange said, “You cannot escape responsibility for tomorrow by escaping it today. The text we are voting on does introduce some room for flexibility, notably to allow for necessary climate investments, but it is also based on sustainable finances to prevent burdening future generations with excessive debt.”

Ms Marques said, “We are proud of our proposal that delivers a strong social dimension, more flexibility in managing debt, and incentives to invest in the EU’s main priorities such as climate, digital, defence, and social sectors. Our priority is now to reach a final agreement in time to avoid reverting to the current and inefficient fiscal rules and to implement a new framework that prevents the return of austerity policies.”

Source: European Parliament

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