Budget

Highlights - Members to discuss EU borrowing costs - 09.10.2023 - Committee on Budgets

Retrieved on: 
Wednesday, October 4, 2023

Members to discuss EU borrowing costs - 09.10.2023

Key Points: 
  • Members to discuss EU borrowing costs - 09.10.2023
    04-10-2023 - 14:57
    Following a workshop on ‘EU borrowing costs: drivers and dynamics - A comparative perspective’ for the Committee on Budgets took place on 22 May 20231, experts have estimated that yearly interest costs borne by the EU budget could increase quickly in the next few years to reach €10.8 billion.
  • Members requested the experts to deliver a follow-up briefing to provide detailed answers to a number of questions raised during the workshop.
  • The authors of the briefing will elaborate on the main takeaways of the briefings and provide:
    The authors of the briefing will elaborate on the main takeaways of the briefings and provide:
    - an update of the spreads between the EU and other major European sovereign issuers,
    - a projection of the total costs of the NGEU borrowing until 2058,
    - an assessment of the adequacy between such a projection and the second batch of own resources,
    - an evaluation of the savings resulting from a tentative tightening of the spreads,
    - additional recommendations to reduce and optimise EU interest rate costs.

Climate change is about to play a big role in government purchases – with vast implications for the US economy

Retrieved on: 
Tuesday, October 3, 2023

Until recently, almost all of them ran on diesel or gasoline, contributing to U.S. demand for fossil fuels and encouraging automakers to continue focusing on fossil-fueled vehicles.

Key Points: 
  • Until recently, almost all of them ran on diesel or gasoline, contributing to U.S. demand for fossil fuels and encouraging automakers to continue focusing on fossil-fueled vehicles.
  • That’s starting to change, and a new directive that the Biden Administration quietly issued in September 2023 will accelerate the shift.
  • Ultimately, it could shift demand enough to change what industries produce, not just for the government but for the entire country.

What’s the social cost of greenhouse gas?

    • The social cost of greenhouse gases represents the damage created by emitting 1 metric ton of carbon dioxide, methane and other greenhouse gases into the atmosphere.
    • These greenhouse gases, largely from fossil fuels, trap heat in the atmosphere, warming the planet and fueling climate change.
    • The result is worsening storms, heat waves, droughts and other disasters that harm humans, infrastructure and economies around the world.

Estimating the cost

    • The Obama administration introduced the first federal social cost of carbon to incorporate climate risk in regulatory decisions.
    • Recent research suggests that the actual social cost of carbon is closer to $185 per metric ton.
    • Without directives like these, decision-makers implicitly set the cost of greenhouse gas emissions to zero in their benefit-cost analyses.

The vehicle fleet as an example

    • The federal vehicle fleet is a good example of how the social costs of greenhouse gases add up.
    • Let’s compare the costs of driving an electric Ford Focus and an equivalent conventional-fuel Ford Focus.
    • Assume each vehicle drives an average of 10,000 miles (about 16,000 kilometers) per year – that’s less than the U.S. average per driver, but it’s a simple number to work with.
    • Scale that to 50,000 new vehicle purchases, and that’s a cost difference of about $4 million to $13.5 million per year for emissions from operating the vehicles.

How the government can shift demand

    • These types of comparisons under the new directive could help shift purchases toward a wide range of less carbon-intensive products.
    • Much of the U.S. government’s spending goes toward carbon-intensive goods and services, such as transportation and infrastructure development.
    • Directing agencies to consider and compare the social cost of purchases in each of these sectors will send similar signals to different segments of the market: The demand for less carbon-intensive goods is rising.
    • Ultimately, if one of the largest segments of demand, the U.S. government, transitions to less carbon-intensive products, supply will follow.

Highlights - Committees vote on Establishing the Ukraine Facility - Committee on Foreign Affairs

Retrieved on: 
Monday, October 2, 2023

Committees vote on Establishing the Ukraine Facility

Key Points: 
  • Committees vote on Establishing the Ukraine Facility
    02-10-2023 - 19:41
    On 5 October 2023 Members of the Committees on Foreign Affairs (AFET) and on Budgets (BUDG) will vote on the draft report by the co-rapporteurs, Michael Gahler (AFET, EPP) and Eider Gardiazábal Rubial (BUDG, S&D).
  • The draft report endorses a substantial assistance package, while strengthening democratic accountability of the Facility, encouraging multiparty democracy in Ukraine, and encouraging the alignment of Ukraine with the requirements for the EU accession.
  • The Ukraine Facility is part of a package also containing the targeted revision of the EU's long term budget (multiannual financial framework - MFF) and the Strategic Technologies for Europe Platform (STEP).

From pests to pollutants, keeping schools healthy and clean is no simple task

Retrieved on: 
Friday, September 29, 2023

But a research collaborative, of which I’m a member, has found that schools might not be ready to protect students from environmental contaminants.

Key Points: 
  • But a research collaborative, of which I’m a member, has found that schools might not be ready to protect students from environmental contaminants.
  • Environmental health standards can help a school community ensure each potential hazard is accounted for.

Air, water and food quality

    • Understanding and controlling common pollutants indoors can improve the indoor air quality and reduce the risk of health concerns.
    • It may seem like maintaining proper food safety and drinking-water quality would be common practices.
    • But many schools do have some level of lead contamination in their food and water.
    • To combat contamination and ensure safe food and water, the Food and Drug Administration overhauled the Food Safety Modernization Act in 2016.

Integrated pest management

    • Many schools have insect infestations, and many combat these pest problems with harsh chemicals when there’s a simpler solution.
    • Integrated pest management is an environmentally sensitive approach to pest management.
    • IPM programs consider the pests’ life cycles and their larger environment, as well as all the available pest control methods, to manage pest infestations economically and scientifically.

Green cleaning

    • School administrators also determine what products to use for pest control and cleaning.
    • Green cleaning uses safer – or less harsh – chemical and pesticide products, since studies have found that the repeated use of harsh chemicals indoors can lead to chronic health effects later in life for anyone directly exposed.
    • Schools need a plan to manage their pollutants long term – these pollutants might be cleaning chemicals and pesticides or chemicals used in science classes.
    • When the school building is safe, students and educators are more able to get down to the business of learning, undistracted.

Foreign policy has been missing from NZ's election campaign – voters deserve answers to these big questions

Retrieved on: 
Friday, September 29, 2023

But there has been one major election area missing the serious debate it needs: foreign policy.

Key Points: 
  • But there has been one major election area missing the serious debate it needs: foreign policy.
  • So here are some of the questions any incoming administration should be able to answer to the satisfaction of voters.

Defence and security

    • Having recently deepened military relationships with Australia and Japan, New Zealand needs to be clear about whether it will join “pillar two” of the AUKUS security pact between the US, UK and Australia.
    • Directly related to the AUKUS question are the hard military implications: who or what would New Zealand fight for?
    • Were the US and China to square off over Taiwan, with Australia (New Zealand’s only formal ally) drawn into such a conflict, would New Zealand send military help?

Ukraine and defence budgets

    • Does this continue or ramp up, or does the level of aid depend on what New Zealand’s allies do?
    • Further to that, what is New Zealand’s official position on what peace would look like for Ukraine?
    • Related to that is the uncertainty over US commitment to supporting Ukraine, given some Republican resistance.
    • More specifically, would any extra spending see the New Zealand Defence Force adopt militarised artificial intelligence technologies?

Trade and sanctions

    • Regional trade integration has been disrupted, with a shift towards unilateral trade policies and agreements.
    • Will New Zealand continue to support the use of sanctions outside the United Nations’ system (such as those imposed on Russia), and will it consider extending sanctions to countries for grievous human rights abuses (such as those imposed on Iran)?

Climate and foreign aid

    • New Zealand’s overall performance is rated “highly insufficient” by the independent Climate Action Tracker.
    • Where does New Zealand stand on mechanisms such as the Green Climate Fund, the world’s largest multilateral fund dedicated to helping developing countries address the climate crisis, and will it increase pledged funding for it?
    • And would it support the creation of a regional development bank or cooperative aid projects with China?

Virtual reality can help emergency services navigate the complexities of real-life crises

Retrieved on: 
Thursday, September 28, 2023

These tragic incidents not only resulted in the loss of innocent lives but were also immensely challenging for emergency response teams.

Key Points: 
  • These tragic incidents not only resulted in the loss of innocent lives but were also immensely challenging for emergency response teams.
  • Each of these events required coordination between several different emergency services: the police, fire services and medical teams.
  • Therefore, decision making by emergency response teams is a high stakes game that can influence the outcomes of different crises.
  • We have been part of a team from the universities of Portsmouth and Winchester investigating how virtual reality (VR) can help prepare responders for these scenarios.

VR and decision making

    • This makes it an invaluable tool for studying decision making under high stress.
    • For emergency responders, there are many benefits to working with VR.
    • Firstly, it can act as a training simulator, allowing first responders to practice critical decision making during a crisis scenario played out in a simulated environment and with a VR headset.
    • By harnessing 360-degree cameras to create immersive simulations based around simulated terrorist events, desktop VR can closely mirror real world emergency scenarios.

Outperforming older methods

    • They show that desktop VR can be a particularly valuable tool in training.
    • For example, VR-based training, especially the interactive kind that responds to a user’s input, has been shown to outperform traditional video-based training methods.
    • This opens up possibilities for the wider adoption of VR in emergency response training, making it more accessible for agencies and organisations with different budgets.

Highlights - BUDG to adopt its position on the Budget 2024 - 02.10.2023 - Committee on Budgets

Retrieved on: 
Thursday, September 28, 2023

BUDG to adopt its position on the 2024 EU budget - 02.10.2023

Key Points: 
  • BUDG to adopt its position on the 2024 EU budget - 02.10.2023
    27-09-2023 - 09:23
    This meeting of the Committee on Budgets will mark an important milestone of the budgetary year, as Members will process the 1170 amendments tabled to the Council's position on the Commission's Draft Budget 2024.
  • Following the publication of the Commission's Draft Budget on 7 June 2023, the Council formally adopted its reading on 5 September, cutting EUR 771 million in commitments.
  • They aimed to ensure that the 2024 budget will be fit to react to the multiple crises the Union is facing and aligned the Parliament's reading with its interim report on the revision of the EU's long-term
    budget (MFF).
  • They aimed to ensure that the 2024 budget will be fit to react to the multiple crises the Union is facing and aligned the Parliament's reading with its interim report on the revision of the EU's long-term
    budget (MFF).

Highlights - AFET-BUDG - Members to vote on Establishing the Ukraine Facility - 05.10.2023 - Committee on Budgets

Retrieved on: 
Thursday, September 28, 2023

AFET-BUDG - Members to vote on Establishing the Ukraine Facility - 05.10.2023

Key Points: 
  • AFET-BUDG - Members to vote on Establishing the Ukraine Facility - 05.10.2023
    26-09-2023 - 17:16
    On 5 October 2023 Members of the Committees on Foreign Affairs (AFET) and on Budgets (BUDG) will vote on the draft report by the co-rapporteurs, Michael Gahler (AFET, EPP) and Eider Gardiazábal Rubial (BUDG, S&D).
  • The draft report endorses a substantial assistance package, while strengthening democratic accountability of the Facility, encouraging multiparty democracy in Ukraine, and encouraging the alignment of Ukraine with the requirements for the EU accession.
  • The Ukraine Facility is part of a package also containing the targeted revision of the EU's long term budget (multiannual financial framework - MFF) and the Strategic Technologies for Europe Platform (STEP).

Highlights - BUDG-ECON - Scrutinising the Recovery and Resilience Facility implementation - 2.10 - Committee on Budgets

Retrieved on: 
Thursday, September 28, 2023

BUDG-ECON - Scrutinising the Recovery and Resilience Facility implementation - 2.10

Key Points: 
  • BUDG-ECON - Scrutinising the Recovery and Resilience Facility implementation - 2.10
    27-09-2023 - 09:23
    Members from the Committee on Budgets and the Committee on Economic and Monetary Affairs will hold the 12th Recovery and Resilience Dialogue with Valdis Dombrovskis, Executive Vice-President responsible for an Economy that Works for People, also in charge of Trade, and Paolo Gentiloni, Commissioner for Economy.
  • The focus of the Dialogue will be on the state of play of Recovery and Resilience Facility (RRF) implementation, in particular as regards the Commission's assessment of national recovery and resilience plans and the requests for additional loans submitted by 31 August 2023, latest payment requests by Member States, as well as Member States' progress towards achieving agreed milestones and targets.
  • The Commissioners are also expected to address how the integration of RePowerEU will increase resilience of Member States as well as the financing aspects of the RRF.
  • The Recovery and Resilience Dialogue is organised under Article 26 of the Regulation establishing the Recovery and Resilience Facility to ensure greater transparency and accountability in implementation of the Facility.