27 March 2014

GOV.UK: CfE for the balance of competences report on economic and monetary policy

HMT launched a call for evidence asking for views on the balance of competences between the EU and the UK on economic and monetary policy. The CfE will be open for submissions until 4 July, 2014.

The call for evidence document explains the historical development and legal background to the EU’s competence in the area of economic and monetary policy and asks a number of questions about how the EU’s competence works in practice. The focus of the report will be those aspects of EU competence which apply to the UK, including economic and fiscal co-operation, the governance and policy making processes, and EU financial assistance mechanisms. It will not consider in detail those aspects which do not apply to the UK, including the single currency itself, due to its opt-out.

The Balance of Competences review is aimed at providing an analysis of what the UK’s membership of the EU means for the UK national interest. It will not produce specific recommendations and will not prejudge future policy, nor will it look at alternative models for Britain’s overall relationship with the EU.

Welcoming the launch, Minister for Europe David Lidington said: "Together the first and second reports in the Balance of Competences review received over 1,000 submissions from a broad range of organisations across the UK and beyond. Thanks to these contributions, we are assembling a solid body of evidence about the impact that the EU has on our everyday lives that will help to inform the wider debate about reform both at home and in Europe.

"Once complete, the Review will provide the most extensive analysis of the impact of EU membership on the UK ever undertaken. This fourth consultation is your final opportunity to have your say on how EU membership affects you, and to make sure that your views are heard on the Review."

The report on the principles of Subsidiarity and Proportionality and Article 352 of the Treaty on the Functioning of the European Union will present views on how they are used and applied in practice, what changes could be considered and what the future challenges are.

Consultations on the third semester reports closed in January and reports are due to be published this summer.

Press release

Overall launch

CfE-document on economic and monetary policy

Balance of Competences Review, 12.7.12 

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