Latest News

neena-gill-mep.jpg

The European Parliament economic and monetary affairs (ECON) committee has voted for new regulations that are designed to ensure stability in Money Market Funds, which are used by companies and investors to deposit cash for short periods.

The new rules seek to protect taxpayers from bailouts, bring increased transparency to the €1 trillion industry, and offer more security to investors, which include charities and many local authorities.

The report will now be voted on in the April plenary session of the European Parliament in Strasbourg.

Neena Gill MEP, European Parliament rapporteur on Money Market Funds, said:

"This was a very, very difficult dossier which everyone recognised and I am very pleased to be able to take it forward to plenary.

"The first step is to reduce systemic risk - the whole point of putting this regulation into place is to protect the taxpayer. It is not in anyone's interest to maintain the status quo, whereby the taxpayer ends up plugging the holes. The regulations will also increase transparency and reporting requirements.

"After lengthy and difficult negotiations we have found a framework that is a win-win for the two polarised groups."

ECON committee backs Labour MEP's proposals to ensure greater stability in Money Market Funds

The European Parliament economic and monetary affairs (ECON) committee has voted for new regulations that are designed to ensure stability in Money Market Funds, which are used by companies and...

Read more

Glenis-Willmott-MEP-EURORDIS-Award-700x410.jpg

A Labour MEP has won an award for her work to help improve the lives of people with rare diseases in Europe.

Last night, Glenis Willmott MEP, Labour's European spokesperson on health, was presented with the Policy Maker of the Year 2015 Award by the European Organisation for Rare Diseases (EURORDIS) following her work on new European legislation on clinical trials and the EU's Health Programme 2014-20.

Mrs Willmott said:

"An estimated 30 million people in Europe are living with a rare disease but lack of expertise can often delay diagnosis and therefore prevent people receiving the right treatment.

"The EU's Health Programme has a budget of €449.4 million (£329.2m) and will help people with a rare disease in one country to see a leading expert in another EU country.

"I also led the European Parliament's work on the new Clinical Trials Regulation, which will encourage research into rare diseases by making it easier to carry out cross-border trials.

"This is particularly important for rare diseases as there are often not enough cases in one country to make a trial viable.

"I'm very proud that the work I've done in Europe will help to improve the lives of people living with a rare disease and I'm honoured to be receiving this award from EURORDIS."

Flaminia Macchia, public affairs director of the European Organisation for Rare Diseases (EURORDIS), said:

"The EU's Health Programme and the Clinical Trials Regulation have a tremendous impact on the lives of people living with a rare disease in Europe and demonstrate Mrs Willmott's commitment to supporting the lives of people living with a rare disease."

Labour MEP named Policy Maker of the Year for work on rare diseases

A Labour MEP has won an award for her work to help improve the lives of people with rare diseases in Europe.

Read more

seb-dance-mep.jpg

The European Parliament environment committee voted today to include sustainability factors in both the fuel quality directive and the renewable energy directive, alongside a formal recognition Indirect Land Use Change (ILUC) needs to be accounted for when assessing the merits of any biofuel.

By forcing food production to go elsewhere, or through increased deforestation, ILUC causes the release of additional greenhouse gas emissions and undermines the emission savings of biofuels. Various peer-reviewed studies have confirmed the ILUC effect is real and that targets for introducing biofuels in the EU can inadvertently increase food prices and greenhouse gas emissions elsewhere.
 
The key aim of Labour's amendments was to prevent the unintended promotion of polluting biofuels as well as the global distortion of crop prices that fuels poverty while at the same time protecting existing investments.
 
To that end, Labour MEPs called for ILUC factors to be accounted for when reporting on the greenhouse gas savings of any biofuel, something Tory MEPs voted against - despite the UK government backing the proposals.
 
Seb Dance MEP, Labour's European spokesperson on environment, said:
 
"The Labour Party along with colleagues across the Socialists & Democrats Group has worked hard to ensure the unintended consequences of increased biofuel usage are recognised.
 
"The compromise agreement we have reached in the committee resulted in only a one per cent increase in our original target for first generation biofuels as well as ensuring ILUC factors are accounted for in both directives.
 
"While it is reassuring to note the Conservative-led government in the UK supports our position on indirect land usage it is a real shame David Cameron's own MEPs disagreed with him and voted against this report."

Environment committee backs Labour MEPs' amendments on fuel quality and renewable energy directives

The European Parliament environment committee voted today to include sustainability factors in both the fuel quality directive and the renewable energy directive, alongside a formal recognition Indirect Land Use Change...

Read more

More Stories >

As with most websites, we will place cookies on your computer to help make your visit to this site better.

Use of this site confirms your acceptance of these cookies.