The House of Lords European Union committee took evidence from the Rt Hon Greg Clark MP, Financial Secretary to the Treasury, on the February European Council agreement on a seven-year financial framework for the EU.
The evidence session took place on Wednesday 13 March at 2.05pm in Committee Room 2A in the Palace of Westminster. The session, followed up on the Committee's detailed scrutiny and latest report on the multiannual financial framework.
Areas the Committee covered in the questioning included:
- Whether the new framework focuses enough on programmes that offer added value, such as Horizon 2020 (research and development) and the Connecting Europe (cross-border transport, energy and IT infrastructure)
- The prospects for the Council's agreement being accepted by the European Parliament, as many parties have already expressed dismay at the cuts to the framework and what they perceive as a lack of flexibility
- The likelihood of the financial transaction tax to be implemented by eleven of the euro area members contributing to the EU budget