What does the economic Affairs Committee do?
European Parliament Employment Committee
Article 6.1 of the aforementioned law provides that the creation, modification and suppression of the Government Delegated Commissions shall be agreed upon by the Council of Ministers by means of a Royal Decree, at the proposal of the President of the Government.
In accordance with the provisions of Article 6.1 of Law 50/1997, of November 27, 1997, of the Government, the collegiate bodies of the Government with the category of Government Delegate Commission shall be as follows:
2. It corresponds to the Government Delegate Commissions the exercise of the functions foreseen in Article 6.4 of Law 50/1997, of 27 November, of the Government, in relation to the matters attributed to each one of them.
c) The Second Vice President of the Government and Minister of Labor and Social Economy; the Third Vice President of the Government and Minister for Ecological Transition and the Demographic Challenge; and the heads of the Ministries of Foreign Affairs, European Union and Cooperation; Transport, Mobility and Urban Agenda; Education and Vocational Training; Industry, Trade and Tourism; Agriculture, Fisheries and Food; Territorial Policy; Science and Innovation; Consumption; and Inclusion, Social Security and Migration.
Law 50 on Governance
The Plenary of the General Council of the Judiciary shall annually elect the Members of the Committee on Economic Affairs and, from among them, shall appoint its Chairman. The Economic Affairs Committee shall be composed of three Members. The Economic Affairs Committee shall act with the attendance of all its members.
Likewise, the Standing Committee may delegate to the Economic Affairs Committee the preparation of the draft annual budget of the Council, the approval of which shall correspond, in any case, to the Standing Committee prior to its submission to the Plenary. (Article 609 LOPJ)
Government Law
Since Economic and Monetary Union (EMU), the most important role of this committee has been in relation to the European Central Bank (ECB). Although independence is guaranteed by the Treaty, the ECB is accountable for its actions to ECON. Every three months, the President of the ECB, or from time to time his deputy, appears before the Committee to report on monetary policy, both on actions taken and future prospects, and answers questions from MEPs. These proceedings are broadcast on television, a verbatim record appears immediately on the Parliament and ECON websites.
Minister Montoro
Order HAC/1336/2020, of December 22nd, publishing the Agreement of the Government Delegate Commission for Economic Affairs, by which regional incentives provided for in Law 50/1985, of December 27th, 1985, are granted for the implementation of investment projects.
The Government Delegate Commission for Economic Affairs, in its meeting held on December 18, 2020, adopted an Agreement by which, at the proposal of the Ministry of Finance, regional incentives provided for in Law 50/1985, of December 27, 1985, for the execution of investment projects are granted.
To publish in the “Official State Gazette” the text of the Agreement of the Government Delegate Commission for Economic Affairs dated December 18, 2020. Said text, with a nominal list of the affected companies, is included as an Annex to this Ministerial Order.
Law 50/1985, of December 27, 1985, on regional incentives for the correction of inter-territorial economic imbalances, developed by Royal Decree 899/2007, of July 6, 2007, constitutes an instrument for state-wide actions, aimed at promoting business initiatives with selective intensity in certain regions of the State in order to distribute the economic activities within the State in a balanced manner.