EU Independent Fiscal Institutions Network

Last updated
EU Independent Fiscal Institutions Network
FormationSeptember 2015
Purpose'Independent' analysis of the public finances ahead of the budget
Location
  • Place du Congrès 1, Brussels (Belgium)
Region served
European Union
Chair
Richard van Zwol
Website www.euifis.eu/eng/home

The EU Independent Fiscal Institutions Network (EU IFIs) is a voluntary and inclusive institution open to all independent fiscal oversight bodies operating in the EU. It provides a platform to exchange views, expertise and pool resources in areas of common concern. It was formally created in September 2015 following the meeting of EU fiscal oversight bodies. [1]

Contents

The Network supports the efforts to review and reinforce the EU fiscal framework, seeking to better exploit the synergies between rules and institutions, as well as between different levels of administration whilst respecting the principle of subsidiarity and enhancing local ownership and accountability.

The network is currently headed by Sander van Veldhuizen, Chair of the CPB Netherlands Bureau for Economic Policy Analysis. The Secretariat is managed by the Centre for European Policy Studies (CEPS).

Chairs

Participating bodies

CountryInstitutionExecutiveWebsite
AustriaFiskalrat Martin Kocher https://www.fiskalrat.at/en/ Archived 2017-12-01 at the Wayback Machine
BulgariaFiscal Council of BulgariaBoris Grozdanov http://fiscalcouncil.bg
CroatiaFiscal Policy CommissionGrozdana Perić https://www.sabor.hr/en/committees/commission-fiscal-policy-10-term
CyprusCyprus Fiscal CouncilDemetris Georgiades http://www.fiscalcouncil.gov.cy/fiscalcouncil/fiscalcouncil.nsf/index_en/index_en?OpenDocument Archived 2017-12-01 at the Wayback Machine
Czech RepublicCzech Fiscal Council (Národní rozpočtová rada) Eva Zamrazilová  [ cs ] https://unrr.cz/
DenmarkDanish Economic CouncilJohn Smidt http://www.dors.dk/english
EstoniaEstonian Fiscal CouncilRaul Eamets http://eelarvenoukogu.ee/en
FinlandEconomic Policy CouncilRoope Uusitalo https://www.talouspolitiikanarviointineuvosto.fi/en/home/
FinlandNational Audit Office of Finland (NAOF)Matti Okko https://www.vtv.fi/en
France High Council of Public Finances Eric Dubois http://www.hcfp.fr/
Germany Independent Advisory Board of the Stability Council (Germany) Thiess Büttner https://www.stabilitaetsrat.de/EN/Home/home_node.html
GreeceFiscal CouncilAnastasia Miaouli https://www.hfisc.gr/en
GreeceParliamentary Budget OfficeFranciscos Koutentakis http://www.pbo.gr/Default.aspx?alias=www.pbo.gr/pbo/en&
HungaryFiscal Council of HungaryÁrpád Kovács http://www.parlament.hu/web/koltsegvetesi-tanacs/in-english
Ireland Irish Fiscal Advisory Council Sebastian Barnes http://www.fiscalcouncil.ie/
ItalyParliamentary Budget Office (UPB)Giuseppe Pisauro http://www.upbilancio.it/
LatviaFiscal Discipline CouncilInna Steinbuka http://fiscalcouncil.lv/council
LithuaniaNational Audit OfficeArūnas Dulkys http://www.vkontrole.lt/bp/defaultEN.aspx Archived 2017-12-01 at the Wayback Machine
LuxembourgConseil National des Finances PubliquesRomain Bausch https://cnfp.public.lu/en.html
MaltaMalta Fiscal Advisory CouncilJohn Cassar White https://mfac.org.mt/
Netherlands CPB Netherlands Bureau for Economic Policy Analysis Jeroen Hinloopen http://www.cpb.nl/en
NetherlandsDutch Council of State - Raad van StateThom de Graaf https://www.raadvanstate.nl/talen/artikel/
PolandNo fiscal council established
PortugalConselho das Finanças Públicas, Portuguese Public Finance CouncilNazaré da Costa Cabral https://www.cfp.pt/
RomaniaRomanian Fiscal CouncilDaniel Dăianu http://www.fiscalcouncil.ro/
SlovakiaCouncil for Budget ResponsibilityIvan Šramko http://www.rozpoctovarada.sk/eng/home
Spain Independent Authority for Fiscal Responsibility (AIReF)Cristina Herrero http://www.airef.es/?locale=en
SwedenSwedish Fiscal Policy CouncilLars Heikensten http://www.finanspolitiskaradet.se/english/swedishfiscalpolicycouncil/abouttheswedishfpc.4.6f04e222115f0dd09ea8000950.html

See also

Related Research Articles

<span class="mw-page-title-main">Benelux</span> Western European politico-economic union

The Benelux Union or Benelux is a politico-economic union and formal international intergovernmental cooperation of three neighbouring states in Western Europe: Belgium, the Netherlands, and Luxembourg. The name is a portmanteau formed from joining the first few letters of each country's name and was first used to name the customs agreement that initiated the union. It is now used more generally to refer to the geographic, economic, and cultural grouping of the three countries.

<span class="mw-page-title-main">Europol</span> European Union law enforcement agency

Europol, officially the European Union Agency for Law Enforcement Cooperation, is the law enforcement agency of the European Union (EU). Established in 1998, it is based in The Hague, Netherlands, and serves as the central hub for coordinating criminal intelligence and supporting the EU's member states in their efforts to combat various forms of serious and organized crime, as well as terrorism.

<span class="mw-page-title-main">Treasurer of Australia</span> Australian government minister in charge of economic policy

The Treasurerof Australia, also known as the FederalTreasurer or more simply the Treasurer, is the minister of state of the Commonwealth of Australia charged with overseeing government revenue collection, federal expenditure and economic policy as the head of the Department of the Treasury. The current treasurer is Jim Chalmers, who was selected by Prime Minister Anthony Albanese in May 2022 following the 2022 Australian federal election.

<span class="mw-page-title-main">Treasury (Australia)</span> Federal treasury department of the Australian Government

The Department of the Treasury, also known as The Treasury, is the national treasury and financial department of the federal government of the Commonwealth of Australia. The treasury is responsible for executing economic and fiscal policy, market regulation and the delivery of the federal budget with the department overseeing 16 agencies. The Treasury is one of only two departments that have existed continuously since Federation in 1901, the other being the Department of the Attorney-General.

<span class="mw-page-title-main">Romania and the euro</span> Overview of the relationship between Romania and the Euro

Romania's national currency is the leu. After Romania joined the European Union (EU) in 2007, the country became required to replace the leu with the euro once it meets all four euro convergence criteria, as stated in article 140 of the Treaty on the Functioning of the European Union. As of 2023, the only currency on the market is the leu and the euro is not yet used in shops. The Romanian leu is not part of the European Exchange Rate Mechanism, although Romanian authorities are working to prepare the changeover to the euro. To achieve the currency changeover, Romania must undergo at least two years of stability within the limits of the convergence criteria.

<span class="mw-page-title-main">Bureau for Economic Policy Analysis</span> Independent Dutch research institute tasked with measuring and forecasting the economy

The Netherlands Bureau for Economic Policy Analysis is a part of the Ministry of Economic Affairs of the Netherlands. Its goal is to deliver economic analyses and forecasts. The CPB is an independent government agency founded at 15 September 1945 by Nobel laureate Jan Tinbergen. On 21 April 1947, it obtained its legal basis. It is located in The Hague, on Bezuidenhoutseweg.

<span class="mw-page-title-main">European Development Fund</span> Fund for European Union aid to other areas

The European Development Fund (EDF) was the main instrument for European Union (EU) aid for development cooperation in Africa, the Caribbean, and Pacific countries and the Overseas Countries and Territories (OCT). Funding was provided by voluntary donations by EU member states. Until 2020 the EDF was subject to its own financial rules and procedures, and was managed by the European Commission (EC) and the European Investment Bank. The EDF has been incorporated into the EU's general budget as of the 2021–2027 multi-annual financial framework.

<span class="mw-page-title-main">Ministry of Finance (Netherlands)</span> Finance ministry in The Netherlands

The Ministry of Finance is the Dutch Ministry responsible for economic policy, monetary policy, fiscal policy, tax policy, incomes policy, financial regulation, the government budget and the financial market. The Ministry was created in 1798 as the Department of Finance of the Batavian Republic. It became the Ministry of Finance in 1876. The Minister of Finance is the head of the Ministry and a member of the Cabinet of the Netherlands. The current Minister is Eelco Heinen.

<span class="mw-page-title-main">Parliamentary Budget Officer</span> Canadian government accountability agency

The Office of the Parliamentary Budget Officer is an office of the Parliament of Canada which provides independent, authoritative and non-partisan financial and economic analysis. The office is led by the Parliamentary Budget Officer, an independent officer who supports parliamentarians in carrying out their constitutional roles of scrutinizing the raising and spending of public monies and generally overseeing the government's activities.

<span class="mw-page-title-main">Office for Budget Responsibility</span> Advisory non-departmental public body in the UK

The Office for Budget Responsibility (OBR) is a non-departmental public body funded by the UK Treasury, that the UK government established to provide independent economic forecasts and independent analysis of the public finances. It was formally created in May 2010 following the general election and was placed on a statutory footing by the Budget Responsibility and National Audit Act 2011. It is one of a growing number of official independent fiscal watchdogs around the world.

<span class="mw-page-title-main">European Fiscal Compact</span> Intergovernmental treaty

The Treaty on Stability, Coordination and Governance in the Economic and Monetary Union; also referred to as TSCG, or more plainly the Fiscal Stability Treaty is an intergovernmental treaty introduced as a new stricter version of the Stability and Growth Pact, signed on 2 March 2012 by all member states of the European Union (EU), except the Czech Republic and the United Kingdom. The treaty entered into force on 1 January 2013 for the 16 states which completed ratification prior to this date. As of 3 April 2019, it had been ratified and entered into force for all 25 signatories plus Croatia, which acceded to the EU in July 2013, and the Czech Republic.

The Parliamentary Budget Office (PBO) is an agency of the Australian Parliament whose purpose is to "inform the parliament by providing independent and non-partisan analysis of the budget cycle, fiscal policy and the financial implications of proposals". It was established by the Gillard government following minority government formation negotiations. Following that commitment, a Joint Parliamentary Committee on the Parliamentary Budget Office was convened, chaired by John Faulkner. The PBO's independence is enshrined in legislation.

The Swedish Fiscal Policy Council is a Swedish government agency organized under the Ministry of Finance tasked with providing an independent evaluation of the Government's fiscal policy. It was established in Stockholm 2007, to review and assess the extent to which the fiscal and economic policy objectives decided on by the Riksdag are being met. Objectives include long-term sustainability of public finances and economic growth, maintaining a target surplus, staying below the expenditure ceiling set by the Riksdag, and a consistent fiscal policy. The Council also promote a public debate on economic policy, and evaluate economic forecasts on which economic assessments by the Government are based. This is primarily done with the annual publication of a report, through conferences, and studies on the Swedish fiscal policy.

<span class="mw-page-title-main">Paul Tang (politician)</span> Dutch politician

Paul Johannes George (Paul) Tang is a Dutch economist and politician on behalf of the Dutch Labour Party.

<span class="mw-page-title-main">Independent Authority for Fiscal Responsibility</span>

The Independent Authority for Spanish Fiscal Responsibility is an independent agency for fiscal control in Spain. It was created in 2013 by the Spanish government, on the initiative of the European Union and to implement a constitutional mandate.

The High Council of Public Finances (HCFP) is a French independent fiscal oversight body. Its aim is to evaluate the assumptions made by the government in relation to the budgets and to ensure the coherence of public finances with the European budgetary agreements and pacts to which France is party. The HCFP operates under the responsibility of the French Court of Audit.

The European Parliamentary Research Service (EPRS) is the in-house research department and think tank of the European Parliament, providing research and analytical support to the members of the European Parliament, its parliamentary committees and the Parliament as a whole. It was created in November 2013 as a directorate-general within the Parliament's permanent administration. The EPRS philosophy is to provide independent, objective and authoritative analysis of, and research on, policy issues relating to the European Union, in order to assist Members in their parliamentary work.

Irish Fiscal Advisory Council is a non-departmental statutory body providing independent assessments and analysis of the Irish Government's fiscal stance, its economic and budgetary forecasts, and its compliance with fiscal rules. The Fiscal Council was created as part of a wider agenda of budgetary reform after the financial crisis.

A fiscal council is an independent body set up by a government to evaluate its expenditure and tax policy. Typically, councils are staffed by economists and statisticians who do not have the ability to set policy, but provide advice to governments and the public on the economic effects of government budgets and policy proposals. Some fiscal councils also provide economic forecasting. Fiscal councils evaluate government's fiscal policies, plans and performance publicly and independently, against macroeconomic objectives related to the long-term sustainability of public finances, short-to-medium-term macroeconomic stability, and other official objectives.

<span class="mw-page-title-main">José Luis Escrivá</span> Spanish economist

José Luis Escrivá Belmonte is a Spanish economist currently serving as governor of the Bank of Spain since 2024. Previously, he served as minister of Digital Transformation and Civil Service and as minister of Inclusion, Social Security and Migration, both under Pedro Sánchez.

References

  1. "Agreement of EU Independent Fiscal Institutions" (PDF). www.euifis.eu. 11 September 2015. Retrieved 2020-09-06.
  2. "Leadership". European Independent Fiscal Institutions. Retrieved 16 September 2022.
  3. "EUIFIs - European Independent Fiscal Institutions". www.euifis.eu. Retrieved 2024-09-24.