HM Treasury
HM Treasury today (27 March 2014) launched a call for evidence asking interested parties such as individuals, think tanks, academics, representative bodies and others to submit their views on the balance of competences between the EU and the UK on economic and monetary policy. This is part of the fourth semester of the governments review of the balance of competences which was launched in July 2012.
The public call for evidence period will run for three months from 27 March to 4 July 2014. Following this, a report on the current balance of competence between the EU and the UK on economic and monetary policy and what this means for the UKs interest will be published by the end of 2014.
The call for evidence document explains the historical development and legal background to the EUs competence in the area of economic and monetary policy and asks a number of questions about how the EUs 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 UKs 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 Britains overall relationship with the EU.
HMT welcomes views and evidence about the balance of powers between the EU and the UK on economic and monetary policy, and what that means for the UK.
For any queries regarding this report or to submit evidence please contact HM Treasury at balanceofcompetences@hmtreasury.gsi.gov.uk.
Photo courtesy of the European Parliament on Flickr used under Creative Commons.