At the meeting on 9 June, the ECOFIN Council discussed a wide ranging agenda which included the abolition of fiscal frontiers, multilateral surveillance and the Delors II package.
In the context of preparation for the Lisbon European Council, the Council discussed in considerable detail, on the basis of introductory statements by President Delors and the chairman of the Monetary Committee, the main aspects of the Commission proposals on the future financing of the Community. As the Deputy is aware, the future financing of the Community was one of the main items discussed at the European Council in Lisbon. As had been expected, final decisions were not taken on this matter at Lisbon. However, progress was made in a number of areas as outlined in my statement to the House on 2 July.
Overall, the Lisbon European Council was an interim stage in the discussion of the Delors II package. Negotiations will now continue with a view to final decisions in December. There is no doubt that there will be a substantial increase in funding for Ireland and the other cohesion countries.
The sub-regional review committees have been invited to make submissions on the content and strategy of the next development plan in so far as it affects their sub-regions. These submissions will concentrate on the development strategies that should be pursued, the type of measures that should be included and the relative priority of the various measures. As part of the process the committee will be asking their constituent organisations and other organisations in the sub-regions to make submissions to them. It is open to local community groups, if they so wish, to make a submission to the sub-regional review committee relevant to the sub-region in which they operate. Alternatively, if their input relates to issues at a national level, it is open to such groups to make a submission to the relevant Government Department dealing with the sector to which their submission relates or to the Department of Finance.