The new EU fiscal framework: Implications for public spending on the green and digital transition (Record no. 9132)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 03244nam a22003257u 4500 |
| 001 - CONTROL NUMBER | |
| control field | pwiiw7281 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | OSt |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20260517120212.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 250409t2025 au ||||| |||| 00| ||eng d |
| 040 ## - CATALOGING SOURCE | |
| Transcribing agency | OSt |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | eng |
| 084 ## - OTHER CLASSIFICATION NUMBER | |
| Classification number | H41 |
| -- | H54 |
| -- | H60 |
| Number source | jelc |
| 100 1# - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Heimberger, Philipp |
| 245 10 - TITLE STATEMENT | |
| Title | The new EU fiscal framework: Implications for public spending on the green and digital transition |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Place of publication, distribution, etc. | Wien : |
| Name of publisher, distributor, etc. | Wiener Institut für Internationale Wirtschaftsvergleiche (wiiw), |
| Date of publication, distribution, etc. | 2025. |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 21 S., |
| Other physical details | 1 Figure, |
| Dimensions | 30cm. |
| 490 1# - SERIES STATEMENT | |
| Series statement | wiiw Policy Notes and Reports |
| Volume/sequential designation | 94 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | This paper provides a critical assessment of the new EU fiscal framework, with a focus on its implications for public expenditure on the twin green and digital transition. According to the reformed rules, member states may commit to a package of investment and reform to extend the fiscal adjustment path from four years to a maximum of seven years, provided the European Commission agrees that the package meets predefined criteria, including the contribution to EU priorities (in particular, the European Green Deal and the EU digital strategy). However, the reformed framework does not provide any broad-based exemption for public investment in the twin transition, although the necessary large expansion in public assets is rather unlikely, given the requirement to reduce public liabilities relative to output over the medium term. This implies that, if member countries want to increase green and digital public spending, they will have to make room for it either by restraining other spending items (e.g. social protection, health or education) or by increasing taxes. A major fiscal consolidation will be required in a number of (big) euro area countries from 2025 onwards to comply with the reformed EU fiscal rules. However, the temporary exemption for additional defence spending will make the overall fiscal stance in EU countries more expansionary than it would otherwise have been. There is now a political focus in the EU on industrialisation through rearmament. The pressure to go for additional deficit-financed defence spending will, however, eventually raise the share of government interest payments in total tax revenue, and the political aversion to higher fiscal deficits must be expected to exert downward pressure on public spending on the green and digital transition. Against that background, this paper discusses three options for how to boost the fiscal space for the required additional public spending on the twin transition: implementing changes to key assumptions in the technical substructure of the new fiscal framework when it comes to assessing country-specific debt sustainability; expanding national co-financing of EU programmes; and introducing an EU investment fund for climate and digitalisation.<br/> |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name entry element | Green transition |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name entry element | digital transition |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name entry element | EU fiscal rules |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name entry element | public investment |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name entry element | fiscal policy |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name entry element | austerity |
| 651 ## - SUBJECT ADDED ENTRY--GEOGRAPHIC NAME | |
| Geographic name | European Union |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Macroeconomic Analysis and Policy |
| 830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE | |
| Volume/sequential designation | 94 |
| Bibliographic record control number | WIIW0000092 |
| Title of a work | wiiw Policy Notes and Reports |
| 856 40 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://wiiw.ac.at/p-7281.html">https://wiiw.ac.at/p-7281.html</a> |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Koha item type | Paper |
| Withdrawn status | Lost status | Damaged status | Not for loan | Home library | Current library | Shelving location | Date acquired | Inventory number | Total Checkouts | Full call number | Barcode | Date last seen | Price effective from | Koha item type |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| WIIW | WIIW | Library | 04/09/2025 | pwiiw7281 | 94 | 1000010007281 | 04/09/2025 | 04/09/2025 | Paper |