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EU should use fiscal rules' leeway, economy commissioner designate says

Published 27/09/2019, 11:51
Updated 27/09/2019, 11:51
© Reuters. New EU Commission designated College meets for a first seminar in Genval

© Reuters. New EU Commission designated College meets for a first seminar in Genval

BRUSSELS (Reuters) - The European Commission should use all the leeway permitted under EU fiscal rules to spur growth in the bloc, the economic commissioner-designate Paolo Gentiloni said.

In draft written answers to lawmakers circulated on Friday, Gentiloni said he would seek to make "full use of the flexibility allowed in the rules" and pursue a more growth-friendly fiscal stance in the euro area.

Ahead of his confirmation hearing in the EU parliament on Oct. 3, Gentiloni also said he would try to introduce sanctions against tax havens, and would move ahead with an EU digital tax if no deal on the matter is reached at global level by the end of 2020.

"If no effective agreement is reached internationally by the end of 2020, the EU should act alone" on digital taxation, Gentiloni said.

He added that the fight against tax evasion and tax avoidance will remain a priority for the next commission.

Jurisdictions listed in the EU tax haven list should be subjected to common sanctions, he said. Listed countries at the moment face no coordinated financial penalty from the EU, but only reputational risks.

© Reuters. New EU Commission designated College meets for a first seminar in Genval

Gentiloni and the whole commission are due to take office in November after they receive the final green light from EU lawmakers.

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