WRITTEN QUESTION E-0765/01 by Bill Miller (PSE) to the Commission. Capital investment.
Date: 2001-03-13
Institutions: European Parliament, Provisional data
Subjects: EU Member State, catering industry, distributive trades, extraction of oil, financial institution, housing, industrial production, investment, transport network

4.12.2001

EN

Official Journal of the European Communities

C 340 E/87

(cid:129) The Court points out that the principle of neutrality as between Member States does not in any way
mean eliminating the competitive advantage of second-hand vehicles which could be bought more
cheaply in another Member State.

These points are likely to apply to Denmark among other countries.

(2001/C 340 E/101)

WRITTEN QUESTION E-0765/01

by Bill Miller (PSE) to the Commission

(13 March 2001)

Subject: Capital investment

Further to my previous Question E-1417/00 (1), is the Commission yet in a position to provide the figures
requested, i.e. would the Commission list capital investment, since 1988, within each Member State in the
following categories:

(cid:129) oil and gas extraction;

(cid:129) manufacturing; distribution;

(cid:129) hotels and catering;

(cid:129) financial business services;

(cid:129) transport and communications;

(cid:129) private dwellings?

(1) OJ C 72 E, 6.3.2001, p. 54.

Answer given by Mr Solbes Mira on behalf of the Commission

(14 June 2001)

In statistics the (cid:145)Capital investment(cid:146) is usually measured through a macroeconomic aggregate called (cid:145)Gross
fixed capital formation(cid:146).

Its latest data are listed in the two attachments, which are sent direct to the Honourable Member and to
Parliament(cid:146)s Secretariat.

The first of the attachment sent is based on the current Methodology ESA 95, the second on the former
one ESA 79 (The ESA is the European System of Accounts, the standard Methodology in this field).

As the data under ESA 95 are not yet fully available, the data under ESA 79 are attached as well, these are
available only up to 1997.

The increase in level between ESA 95 and ESA 79 is due to an extension of coverage, in particular the
inclusion of certain intangible investments (software, data bases, art (cid:133)), mineral exploration (successful or
not), civil equipment used by military (airports, hospitals, (cid:133)), etc.

The matching between the branches of the Honourable Member(cid:146)s request and the available ones is as
follows:

1. Under ESA 95 (Nomenclature NACE rev. 1 Level A31):

(cid:129) mining and quarrying of energy producing materials;

(cid:129) manufacturing;

(cid:129) construction;

C 340 E/88

Official Journal of the European Communities

EN

4.12.2001

(cid:129) wholesale and retail trade (includes repairing);

(cid:129) hotels and restaurants;

(cid:129) transport, storage and communication;

(cid:129) financial intermediation.

2. Under ESA 79 (Nomenclature NACE-CLIO, Level R25):

(cid:129) fuel and power products;

(cid:129) manufactured products;

(cid:129) building and construction;

(cid:129) recovery and repair services, wholesale and retail trade services;

(cid:129) lodging and catering services;

(cid:129) inland transport services;

(cid:129) maritime and air transport services;

(cid:129) auxiliary transport services;

(cid:129) communication services;

(cid:129) total transport services and communications [in italics above];

(cid:129) services of credit and insurance institutions.

(2001/C 340 E/102)

WRITTEN QUESTION E-0770/01

by Charles Tannock (PPE-DE) to the Commission

(13 March 2001)

Subject: The Commission(cid:146)s criticism of the Irish government(cid:146)s fiscal policy

Does the Commission accept the view of the European Central Bank that inflation is essentially a monetary
phenomenon, and, if so, does it accept that the current level of inflation and overheating of the economy
in Ireland is due not to the Irish government(cid:146)s fiscal policy (accepting that fiscal policy can alter the
balance between the private and public sectors and, therefore, the efficiency in the allocation of resources
and the future productive capacity of the economy) but to the inappropriateness of the (cid:145)one-size-fits-all(cid:146)
interest rate within the eurozone area which would pose significant problems for the U.K. were it to join
the euro?

Could the Commission also explain why it chose to criticise Ireland, which, by common consent, has one
of the most successful economies in the eurozone, and not France which has very high levels of public
expenditure or Spain, which has a higher rate of inflation than Ireland?

Answer given by Mr Solbes Mira on behalf of the Commission

(16 May 2001)

The Commission believes that fiscal policy can contribute positively or negatively to economic stability,
including price stability. Moreover, the lack of a national monetary policy in monetary union implies that
economic policy tools that remain under the independent authority of national governments, such as fiscal
policy, must be used more actively to achieve macro-economic stabilisation.

The spectacular growth rates of the Irish economy have recently led to overheating, with a positive output
gap, a tightening labour market and high inflation. In the Broad Economic Policy Guidelines (BEPGs) for
2000, the Irish authorities committed themselves to gearing budgetary policy to the objective of economic
stability, which, given the extent of overheating, should be interpreted as the need for a neutral, or
preferably, tighter fiscal stance.