Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-02-22-Speech-2-044"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20050222.4.2-044"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spoken text |
"Mr President, I wish to begin by thanking my colleagues Mr Goebbels and Mr Karas for their work in preparing the reports on public finances.
As we know, growth in the EU has not been as good as we expected. The decrease in the share of GDP used for private and public investments in comparison with the 1970s is drastic, as our colleague Mr Karas described. Due to a lack of structural reforms and low investment, growth in GDP is not satisfactory. However, we cannot rely only on public investment to stimulate growth: we must give incentives to stimulate private investment, which is the real source of sustainable growth in Europe.
At the heart of this debate is the future of the Stability and Growth Pact. The goal of the Pact was to balance the budgets of Member States and to create budget surpluses by 2003. The idea behind this was for the Member States to pay off their debts in the good times and to ensure, by reforming the structures of the public sector, that their budgets could be kept balanced in the bad times as well. However, it is not easy for us politicians to restrain ourselves from increasing spending in good times. Unfortunately this shows in the poor results of many Member States with regard to the Pact.
I am strongly in favour of the Pact. The Member States who have done their share and have kept their public finances in check – especially my country, Finland – have to suffer as a result of the irresponsibility of the Member States that just do not care! Unfortunately it now seems inevitable that some elements of flexibility will be added to the Pact. However, we should be wary of watering down the Pact.
Three issues should be kept in mind. Firstly, the rules should be same for all Member States and the criteria should be objective. Secondly, no expenditure, such as public investments or research funding, should be automatically excluded from public expenditure: these exceptions would provide an opportunity for Member States to interpret them in a very innovative way. Thirdly, the flexibility accorded to the Member States should be bound to reforms they have carried out in good times. It is only fair that those Member States that have paid their debts and have reduced their deficits should have some flexibility, but those who have not done anything should not be given any more room for manoeuvre.
I hope that good common sense will win out and that the Stability and Growth Pact will remain; and, if any changes are made to it, at least let us direct them in a favourable direction."@en1
|
| lpv:spokenAs | |
| lpv:unclassifiedMetadata |
Named graphs describing this resource:
The resource appears as object in 2 triples