Economic Partnership Programme of the Netherlands - Main contents

EN

Official Journal of the European Union

C 371/4

The Stability and Growth Pact (SGP) aims at securing budgetary discipline across the Union and sets out the framework for preventing and correcting excessive government deficits. It is based on the objective of sound government finances as a means of strengthening the conditions for price stability and for strong sustainable growth underpinned by financial stability, thereby supporting the achievement of the Union's objectives for sustainable growth and jobs.

Regulation (EU) No 473/2013 sets out provisions for enhanced monitoring of budgetary policies in the euro area and for ensuring that national budgets are consistent with the economic policy guidance issued in the context of the SGP and the European Semester. Since purely budgetary measures might be insufficient to ensure a lasting correction of the excessive deficit, additional policy measures and structural reforms may be required.

Article 9 of Regulation (EU) No 473/2013 sets out the detailed arrangements for economic partnership programmes, to be submitted by euro area Member States under an excessive deficit procedure. Setting out a roadmap of measures to contribute to an effective and lasting correction of the excessive deficit, the Economic Partnership Programme should specify in particular the main fiscal-structural reforms, in particular those referring to taxation, pension and health systems and budgetary frameworks.

On 2 December 2009, the Council adopted a decision according to Article 126(6) of the Treaty, whereby the Netherlands was subject to an excessive deficit procedure. The Council adopted a revised recommendation under Article 126(7) on 21 June 2013. In this context, the Netherlands was requested to present an Economic Partnership Programme by 1 October 2013.

On 30 September 2013, and within the time frame established by Article 9(3) and 17(2) of Regulation (EU) No 473/2013, the Netherlands presented to the Commission and to the Council an Economic Partnership Programme, setting out in particular fiscal-structural reforms that aim at ensuring an effective and lasting correction of the excessive deficit (country-specific recommendation (‘CSR’) 1). The Economic Partnership Programme also includes measures aimed at addressing the wider set of country-specific recommendations addressed to the Netherlands by the Council on 9 July 2013: a limitation of debts and related financial risks on the house purchasing market; a promotion of turnover in the house purchasing market, an improvement in the functioning and allocation of the subsidised rental sector; a promotion of the private rental sector (CSR 2); the improvement of the financial supervision of the pension funds, enabling an improved balance between risks and ambition, also from an intergenerational perspective; a lowering of the annual accrual rate for occupational pensions, taking into account the longer accrual period in view of increases in the pension age; the improvement of the employability of older employees; a revision of the long-term care system (CSR 3); improving labour force participation; and promoting labour market transitions (CSR 4). Apart from the additional...