Today we are launching two closely related OECD Economic Surveys, one on the European Union and the other on the Euro Area. How is Europe doing? Compared to the situation in April 2014, when the previous Surveys were released, there are reasons for optimism. Growth has picked up, if only gradually, and spread to virtually all EU countries.
Je me réjouis des solutions proposées par l’Union Européenne pour mettre en œuvre les mesures du projet BEPS qui permettront d’engager de façon concrète les changements du système fiscal international et d’étayer une économie globale plus juste.
The European Commission presented today an Action Plan to fundamentally reform corporate taxation in the EU. The Action Plan sets out a series of initiatives to tackle tax avoidance, secure sustainable revenues and strengthen the Single Market for businesses.
It is a great pleasure to have the opportunity to address this Informal ECOFIN. I’d like to thank the Latvian Presidency for inviting me to speak to you and for their excellent leadership.
The OECD and the EU have worked hand in hand over many years to tackle some of the greatest challenges on the international tax agenda. Working together to ensure the coherence of global tax rules is absolutely critical – for governments and for business, coherency improves effectiveness, increases efficiency and reduces unnecessary compliance costs.
Last time I addressed the Committee in November 2013, we were still in crisis mode. Two weeks ago, the OECD released its Interim Economic Outlook and it seems that the Spring of 2015 has brought encouraging signs for the global economy. Lower oil prices and widespread monetary easing have raised the potential for the acceleration of growth that is so needed in many countries, especially in Europe.
The OECD Secretary-General Gurría welcomed the announcement and congratulated the Commission for the work done. "The European Commission’s initiative is another major step to tackle corporate tax avoidance.
Fiscal consolidation has made much progress, but government debt in many countries is still too high. Continued consolidation is needed, but without losing sight of the need to support inclusive growth and job creation, said OECD Secretary-General Angel Gurría.
After five years of work at every level to correct the fiscal, financial and external imbalances that led to the crisis, and to reinforce fiscal and financial institutions, the Euro Area is beginning to show signs of recovery. But, despite these positive signs, growth is still weak and uneven.
The OECD was born transatlantic since its very origins as the Organisation for European Economic Cooperation in 1948, established in the immediate post-war period to manage and distribute Marshall Plan aid to reconstruct Europe. The centre of gravity of the world economy is now shifting and will continue to do so but this does not mean that the Transatlantic Partnership has a lesser role to play on the global stage, said Angel Gurría.