Increased national insurance contributions for employers will lead to an additional £140 million in expenses for Sainsbury's and are expected to contribute to inflationary pressures, according to CEO Simon Roberts. He noted that it is "premature to detail" the effects on Sainsbury’s employees, but acknowledged that challenging choices are on the horizon due to escalating costs.

Business correspondent @taaffems

Thursday, November 7, 2024, 10:

The CEO of one of the UK’s largest supermarket chains stated that the new budget policies will incur costs of £140 million for the company.

Sainsbury's CEO, Simon Roberts, stated that the increase in employer's national insurance contributions, as declared by Chancellor Rachel Reeves in last week's budget, will incur an additional expense of £140 million for the company starting in April.

Mr. Roberts did not specify a cost for the increase in the national minimum wage, but he indicated that the new policies would lead to a rise in inflation, which is the rate at which prices increase overall.

Sainsbury's, the second biggest supermarket in the UK in terms of market share, lacks the ability to handle a surge in expenses, according to Mr. Roberts, meaning prices for consumers are set to increase.

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He referred to insights from the independent forecasting group, the Office for Budget Responsibility (OBR), which indicated that the measures announced by Ms. Reeves would likely lead to higher inflation than initially expected. He noted that it was "hard to argue against" this assessment.

Mr. Roberts stated, "The effect on national insurance has taken us by surprise and is rapidly unfolding. It will have a profound impact, affecting both our cost structure and that of our suppliers."

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When questioned about the impact of increasing minimum wages and higher national insurance contributions on inflation, Mr. Roberts noted that inflation was already escalating, indicating significant existing pressures likely to drive prices up further.

Learn more: Major retailers confront challenges with rising food costs following fiscal plan adjustments

Mr. Roberts expressed his anticipation of a decrease in business rates, stating, "I was really expecting the business rates to drop this year; it was surprising to hear they're not only going to increase this year but also continue rising next year."

How does this impact employees?

In response to inquiries about potential effects on Sainsbury's employees, Mr. Roberts acknowledged that the company faced "challenging choices ahead," though he noted it was "premature to provide details."

At the start of this week, JD Wetherspoon, the owner of over 1,000 pubs throughout the UK, announced that the new budget would increase its expenses by £60 million next year. Meanwhile, Marks & Spencer predicts a financial impact of £120 million due to the budget.

Altering routines

On Thursday morning, Sainsbury's revealed that the trend of doing a large weekly grocery shop is making a comeback as more individuals return to office work.

Stay informed with the most recent developments from the UK and globally by tuning into Sky News.

Mr. Roberts also noted that due to increased prices at restaurants, more individuals are choosing to dine at home.

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The UK has imposed sanctions on a Russian military officer allegedly involved in the Salisbury novichok attack, as part of a broader effort to target the Kremlin. The sanctions also extend to numerous individuals and organizations connected to Russia, with businesses in China, Turkey, and Central Asia that provide components for military hardware utilized in Ukraine being targeted as well.

Political journalist @alixculbertson

Thursday, November 7, 2024 12:42

The UK has imposed sanctions on a Russian military officer alleged to have assisted in the novichok poisoning of ex-double agent Sergei Skripal in Salisbury.

The Foreign Office has announced 56 new sanctions targeting individuals and organizations associated with Russia, encompassing members of the unofficial Wagner mercenary group working for Vladimir Putin, as well as entities in China, Turkey, and Central Asia that provide components to Russia.

Denis Sergeev, who has been charged by the Met Police for the attempted assassination of the former double agent Mr. Skripal, has faced sanctions under the chemical weapons sanctions program.

The decision to impose sanctions now is intended to demonstrate solidarity with European leaders during this week’s summit on Ukraine.

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"The Foreign Office stated that Sergeev assisted in the preparation and deployment of the chemical agent novichok in Salisbury, and played a coordinating role in London during the weekend when the attack occurred."

In March 2018, Mr. Skripal and his daughter Yulia were discovered unresponsive on a public seat in Salisbury, Wiltshire.

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Authorities have stated that the nerve agent novichok was used on the front door of his residence.

Three Russian nationals, identified by authorities as officers from the GRU military intelligence service, have been indicted in absentia in connection to the event.

Sergeev was the final individual to face charges, with authorities stating he operated using the pseudonym Sergey Fedotov.

An official investigation into the tragic demise of Dawn Sturgess, who was inadvertently poisoned by a perfume bottle laced with novichok, received testimony that Mr. Skripal was convinced that Mr. Putin had orchestrated the assault against him.

Moscow has consistently denied claims from Britain that the Kremlin had any involvement.

Testimony revealed that the novichok contained within the perfume bottle could have been lethal to thousands of individuals.

The new round of sanctions also targets firms that provide military equipment to Russia, which is being used in its conflict with Ukraine.

A total of ten Chinese firms, along with a few companies from Turkey, Estonia, Kazakhstan, and Uzbekistan, have been identified for their role in supplying and manufacturing machine tools, microelectronics, and drone components utilized by Russia in Ukraine.

Learn more: Trump's erratic behavior leads the UK government into uncharted territory. Israeli attacks in Lebanon result in 40 deaths.

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Mercenary organizations based in Russia and active in sub-Saharan Africa, which have connections to the Russian government, are also included on the list.

The Foreign Office has accused them of destabilizing peace and security in Libya, Mali, and the Central African Republic, as well as perpetrating extensive human rights violations throughout Africa.

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Foreign Secretary David Lammy stated, "The actions taken today will further counteract the Kremlin's harmful international strategies, thwarting Russia's efforts to incite unrest throughout Africa and impeding the provision of essential supplies for Putin's military operations."

"Breaking apart the illegal global networks that Russia has diligently built."

Nearly 1,000 days have passed in a conflict that President Putin anticipated would last merely days. He will not succeed, and I will persist in exerting pressure on the Kremlin while backing the Ukrainian populace in their struggle for liberty.

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Bank of England attributes upcoming inflation increases to Chancellor Rachel Reeves's latest budget measures announced in October.

Business and economics reporter @pkelso

Thursday, November 7, 2024, at 7

The Bank of England predicts that the initial budget presented by Chancellor Rachel Reeves will boost inflation by as much as 0.5 percentage points in the coming two years, resulting in a more gradual reduction in interest rates than initially anticipated.

The Bank's Monetary Policy Committee (MPC) has declared a reduction in the base rate by 0.25 percentage points, bringing it down to 4.75%. Additionally, the MPC now predicts that inflation will consistently meet the 2% target by the first half of 2027, which is a year later than previously estimated.

"The MPC noted in its minutes that since their last gathering, there has been a significant upward adjustment in the market's expected trajectory for the UK Bank rate."

Decline in interest rates – recent developments

The quarterly Monetary Policy Report from the Bank indicates that Ms. Reeves's financial strategy, involving £70 billion in taxes and borrowing, is likely to drive up prices and contribute to a 0.75% rise in GDP for the following year.

Governor Andrew Bailey emphasized that the prevailing pattern remains one of ongoing disinflationary progress.

He stated, "Today's reduction in interest rates is noteworthy given the current news. While there is a slight increase in inflation, we believe the inflation trajectory we've outlined will meet our target by the designated timeline. This has bolstered our decision to lower rates today."

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"Currently, inflation is slightly under our target of 2%, enabling us to reduce interest rates once more," Mr. Bailey stated.

"It's crucial to keep inflation near our goal, which means we must avoid reducing interest rates too rapidly or significantly. However, assuming the economy develops according to our projections, we anticipate a steady decline in interest rates moving forward."

The Monetary Policy Committee, with an 8-1 majority, endorsed the reduction, though one member preferred keeping the rate steady at 5%. The committee consistently held the position that interest rates should decrease "gradually," keeping a close watch on the economy's reaction to declining inflation.

What are the reasons for the increase

The Bank predicts that price increases will start in the early months of next year, following the implementation of VAT on private school tuition and the rise of the bus fare limit by £1 to £3.

The hike in employer national insurance to 15%, the most significant item in the budget, is expected to exert a slight inflationary pressure, balanced by the decision to maintain current fuel duty rates.

Collectively, these factors are expected to increase inflation by 0.3 percentage points in the coming year. The highest impact, nearly half a percentage point, is anticipated in 2026 following the expected end of the fuel duty freeze. This is an assumption the Bank must make, even though the freeze has been continuously upheld for 11 years by various chancellors, including Ms. Reeves.

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The Bank has determined that the rise in national insurance and the adjustment in the national living wage are expected to raise employment costs overall. Employers are likely to offset these costs by a combination of raising prices, adjusting margins, and increasing wages, although it is not yet certain how these factors will be balanced.

"The minutes indicate that the initiatives introduced in the autumn Budget 2024 are tentatively predicted to enhance GDP by approximately 0.75% at their maximum impact within a year, compared to the forecasts made in August."

"The forecast suggests that the budget will likely increase the Consumer Price Index (CPI) inflation by almost 0.5% at its highest point, due to the combined effects of reduced excess supply and direct consequences stemming from the budget's provisions."

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Hearing for Commissioner-Designate Andrius Kubilius

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During a session on Wednesday, the committees responsible for Foreign Affairs as well as Industry, Research, and Energy conducted an inquiry with Andrius Kubilius, the nominee from Lithuania, regarding the Defence and Space position.

In his opening remarks, Mr. Kubilius emphasized the pressing and ongoing issues confronting European defense. These include existential threats like traditional warfare, hybrid assaults, and the weaponization of space. He also pointed out the considerable lack of investment in defense, the highly divided European defense equipment market, and how strategic competitors like China and Russia are “surpassing us” in defense spending. To tackle these issues, he called on MEPs to back his initiative to establish a true European Defence Union. The EU, while not vying with NATO, should assist in developing the capabilities and resources essential for executing NATO's military deterrence and defense strategies.

If confirmed, Mr. Kubilius promises to introduce a white paper on the future of European defense within his first 100 days in office. The goal is to establish a fresh strategy for defense and pinpoint necessary investments to achieve comprehensive European defense capabilities. He emphasized the importance of increasing defense spending efficiently and collaboratively within Europe, boosting EU defense equipment production and demand, using the EU budget to address critical defense priorities, and easing cross-border defense procurement. "We must create a genuine single market for defense," he stated.

Regarding space, Mr. Kubilius emphasized the importance of Europe participating in the ongoing "space revolution." He highlighted the necessity of pushing forward with the EU's leading space initiatives, securing Europe's independent access to space, proposing new European space legislation, and bolstering the EU space sector's competitiveness.

Protection, robustness, and readiness

Members of the European Parliament (MEPs) emphasized the importance of understanding defence, resilience, and preparedness within the context of crises such as the pandemic and the recent devastating floods in Spain. They inquired about creating incentives for member states to increase their defence spending and improving the financial support for boosting production capacities through the European Defence Industry Programme (EDIP). Mr. Kubilius replied that, although costly, being prepared is more economical than confronting a crisis unprepared. Regarding financing, he suggested that the European Investment Bank should adapt its lending policies and that the upcoming multiannual financial framework should allocate more funds for defence and space initiatives. He further noted that even a modest increase in the defence budgets of member states could have a substantial impact at the EU level.

Increase defense spending, driven by concerns over Putin rather than Trump.

Several Members of the European Parliament inquired about the Commissioner-designate's stance on prioritizing the procurement of defense equipment from Europe. Mr. Kubilius emphasized the importance of maintaining a robust and competitive industrial foundation in Europe over the long term, stating that increased spending is necessary, not due to former President Trump, but because of President Putin.

A number of Members of the European Parliament expressed worries that a European Union military force might take the place of individual national armies. Mr. Kubilius clarified that the EU's purpose is to promote collective sovereignty and joint responsibility. The EU aims to support member countries in achieving goals collectively that would be difficult for any one nation to accomplish alone.

Media briefing

Following the conclusion of the hearing, David McAllister from Germany, who chairs the Foreign Affairs Committee, and Borys Budka from Poland, head of the Industry, Research and Energy Committee, addressed reporters outside the meeting room. A video of their statements is available for viewing.

Future actions

The committee leaders and heads of political groups are set to convene promptly to evaluate the competence and credentials of the individual nominated for the Commissioner position.

Following the committee's suggestions, the Conference of Presidents, which includes EP President Metsola and the leaders of political groups, plans to complete the final assessment and officially conclude the hearings on November 21. After the Conference of Presidents has confirmed the conclusion of all hearings, the evaluation letters will be made public.

Members of the European Parliament are set to vote on the entire group of Commissioners, with the election requiring a majority of roll-call votes. This vote is planned for the plenary session in Strasbourg, which is slated to occur between November 25th and 28th.

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Commissioner-Designate Olivér Várhelyi's Hearing

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On Wednesday evening, Olivér Várhelyi, the Hungarian nominee for the Health and Animal Welfare role, was interrogated by two committees from the European Parliament.

Várhelyi began by stating his intention to enhance public health by expanding the EU Health Union. His focus will be on preventive healthcare, ensuring access to essential treatments and medications, and supporting the growth of clinical research within Europe. He also pledged to implement the "One Health" strategy, which integrates the well-being of humans, animals, and the environment.

Essential drugs, battle against cancer and heart diseases

The proposed Commissioner emphasized his dedication to finalizing the EU's pharmaceutical reforms and enhancing them with a new Critical Medicines Act. Additionally, Mr. Várhelyi plans to introduce a European Biotech Act to foster innovation and intends to initiate updates to the regulations concerning EU medical devices and tobacco products.

He highlighted the significance of putting the EU Beating Cancer Plan into action and vowed to introduce a comparable strategy to address heart-related ailments. Once officially appointed, he plans to tackle several urgent health challenges, such as addressing mental health problems in young people and fighting against antimicrobial resistance. Additionally, he will focus on the effective enforcement of current laws, particularly concerning the European Health Data Space and regulations on health threats that cross national borders.

Standards for Food Security and Animal Welfare in the

Emphasizing the Commission's upcoming "Vision for Agriculture and Food," Mr. Várhelyi committed to reducing the dangers associated with pesticides, encouraging the use of alternatives to chemicals, and upholding the EU’s rigorous food safety standards. He assured the public that foods brought into the EU adhere to stringent criteria.

Upon confirmation, he expressed his intention to engage with farmers on methods to enhance animal welfare and eliminate the practice of keeping animals in cages. Additionally, he pledged to boost the accessibility of effective substitutes for pesticides for agricultural workers.

Members of the European Parliament inquired about various issues, such as the approval process for vaccines in the EU, rights related to sexual and reproductive health, patient rights and instances of discrimination, obstacles to cross-border healthcare, fair access to medical services, and enhancing the competitiveness of the EU's healthcare sector.

They inquired about the upcoming specific measures to secure food availability in the EU, the labeling of farm products, new food innovations, and strategies to prevent and manage animal disease outbreaks.

The entire hearing is available to view in a video recording.

Future actions

The leaders and coordinators representing the political groups within the Environment, Public Health and Food Safety Committee, along with those from the Agriculture and Rural Development Committee, are set to convene promptly. Their aim is to evaluate the abilities and credentials of the individual nominated for the position of Commissioner.

Following the suggestions put forward by the committee, the Conference of Presidents—which includes EP President Metsola and the leaders of the political groups—plans to make a concluding assessment and officially close the hearings on November 21. After the Conference of Presidents finalizes the closure of all hearings, the assessment letters will be made public.

Members of the European Parliament are expected to vote on the entire group of Commissioners during a roll-call session, with the decision requiring a majority of the votes cast. This vote is planned for the plenary meeting in Strasbourg from November 25 to 28.

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Olivér Várhelyi's Nomination Hearing

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On Wednesday evening, Olivér Várhelyi, the Hungarian nominee for the Health and Animal Welfare position, was interrogated by two committees of the European Parliament.

In his introductory statement, Várhelyi expressed his intention to enhance public health by expanding upon the EU Health Union. He emphasized the importance of preventive healthcare, ensuring access to essential treatments and medications, and fostering the retention and expansion of clinical research within Europe. He also pledged to implement the "One Health" strategy, which harmonizes the well-being of humans, animals, and the ecosystem.

Essential drugs, battle against cancer and heart diseases

The nominated Commissioner emphasized his dedication to finalizing efforts on the EU's pharmaceutical reform and plans to enhance it with a new Critical Medicines Act. Mr. Várhelyi intends to introduce a European Biotech Act to foster innovation and will initiate a review of the EU's regulations on medical devices and tobacco products.

He highlighted the significance of rolling out the EU Beating Cancer Plan and vowed to introduce a comparable strategy to address cardiovascular diseases. Upon confirmation, he intends to focus on several urgent health challenges, such as addressing mental health concerns among young people and fighting against antimicrobial resistance. Additionally, he will prioritize the effective implementation of current laws, particularly those related to the European Health Data Space and regulations concerning health threats across borders.

Standards for Animal Welfare and Food Security in the

In anticipation of the Commission's upcoming "Vision for Agriculture and Food," Mr. Várhelyi committed to reducing the dangers associated with pesticide use, encouraging the adoption of non-chemical solutions, and upholding the EU's stringent food safety regulations. He assured consumers that imported food products adhere to the rigorous standards set by the EU.

Should he be confirmed, he expressed his intention to have discussions with farmers regarding methods to enhance animal welfare and put an end to the "cage age." Additionally, he pledged to boost the accessibility of effective alternatives to pesticides for agricultural producers.

Members of the European Parliament inquired about various issues, such as the approval process for vaccines within the EU, rights related to sexuality and reproduction, patient rights and issues of discrimination, obstacles to healthcare across borders, fair access to medical services, and enhancing the competitive edge of the EU's health sector.

They inquired about the intended specific steps to secure the food supply within the European Union, the labeling of farm products, new food innovations, and measures to prevent and manage animal disease outbreaks.

The complete hearing is available for viewing in a video format.

Upcoming Actions

The leaders and political group coordinators from the Environment, Public Health, and Food Safety Committee, along with the Agriculture and Rural Development Committee, are set to convene promptly to evaluate the abilities and credentials of the nominated Commissioner.

Following the suggestions of the committee, the Conference of Presidents, which includes EP President Metsola and the leaders of political groups, plans to perform the concluding assessment and officially announce the end of the hearings on November 21. After this declaration, the letters containing the evaluations will be made public.

Members of the European Parliament are set to vote on the entire group of Commissioners by a majority through a roll-call process, with the election planned for the plenary session held in Strasbourg from November 25 to 28.

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Olivér Várhelyi's Hearing as Commissioner-Designate

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On Wednesday evening, Olivér Várhelyi, the nominee from Hungary for the Health and Animal Welfare role, faced inquiries from two committees of the European Parliament.

During his initial statements, Várhelyi expressed his commitment to enhancing public health by expanding the EU Health Union. He emphasized the importance of focusing on preventive healthcare, making sure essential treatments and medications are accessible, and fostering the development of clinical research within Europe. Várhelyi also pledged to implement the “One Health” strategy, which seeks to harmonize the well-being of humans, animals, and the ecosystem.

Essential drugs, battle against cancer and heart-related illnesses

The designated Commissioner emphasized his dedication to finalizing the EU pharmaceutical reform and enhancing it with the introduction of a Critical Medicines Act. Additionally, Mr. Várhelyi plans to introduce a European Biotech Act to foster innovation and intends to initiate updates to the EU's regulations on medical devices and tobacco products.

He highlighted the significance of putting the EU Beating Cancer Plan into action and committed to launching a comparable initiative to address cardiovascular diseases. Upon confirmation, he intends to focus on several urgent health challenges, such as addressing mental health problems in young people and fighting against antimicrobial resistance. Additionally, he will prioritize the effective implementation of the current legislative measures, particularly the European Health Data Space and the regulations concerning cross-border health threats.

European Union Standards for Food Security and Animal Welfare

Emphasizing the Commission's upcoming "Vision for Agriculture and Food," Mr. Várhelyi committed to reducing the dangers associated with pesticides, encouraging the use of non-chemical options, and upholding the EU's stringent food safety standards. He assured the public that food imports adhere to the EU's rigorous requirements.

Should he be confirmed, he mentioned plans to engage with farmers on enhancing animal welfare and eliminating the use of cages. Additionally, he pledged to boost the accessibility of feasible pesticide alternatives for agricultural producers.

Members of the European Parliament inquired about various subjects, such as the approval process for vaccines in the EU, issues related to sexual and reproductive health and rights, the rights of patients and incidents of discrimination, challenges in accessing healthcare across borders, ensuring fair access to medical services, and enhancing the competitiveness of the health sector within the EU.

They inquired about specific measures being proposed to secure food availability in the EU, the labeling of farm goods, innovative food products, and strategies for preventing and managing animal disease outbreaks.

The complete video of the hearing is available for viewing.

Future actions

The leaders and coordinators from the political groups within the Committee on Environment, Public Health and Food Safety, as well as the Committee on Agriculture and Rural Development, will convene promptly to evaluate the abilities and credentials of the individual nominated for the Commissioner position.

Following the suggestions from the committee, the Conference of Presidents, which includes the EP President Metsola and the leaders of the political groups, plans to carry out the final assessment and officially conclude the hearings on November 21. After this declaration by the Conference of Presidents, the evaluation letters will be made publicly available.

Members of the European Parliament are set to vote on the entire group of Commissioners during a plenary session in Strasbourg, which is planned for November 25-28. The decision will be made by a roll-call vote, requiring a majority of the votes cast.

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Briefing on Commissioner-nominee Marta Kos

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On Thursday, the Foreign Affairs Committee conducted an inquiry with Marta Kos, the Slovenian nominee for the role overseeing Enlargement.

During her opening remarks, Ms. Kos expressed that the theme of expansion has been a consistent and significant part of her life. She mentioned that as a member of a young Slovenian generation advocating for liberty and democratic values, joining the EU was a clear objective. She further stated her commitment to bringing the same dedication and vigor to the enlargement efforts in the years ahead.

Ms. Kos highlighted that the process of expanding the EU is a long-term endeavor, not something that can be rushed. While she supports ambitious goals, she insists that the path to EU membership should be based on merit, with each prospective country evaluated on its own achievements: "There are no shortcuts." Furthermore, if her appointment is confirmed, Ms. Kos pledged to ensure that all nations aiming for EU membership are adequately prepared, receive solid political backing from the EU, and are supported throughout the process. She believes that countries implementing reforms should also enjoy the benefits, such as gradual entry into the single market. She also stressed her intention to tackle any democratic regression and underscored the necessity for strong European dedication from the countries seeking membership.

When discussing Ukraine, she pledged to cooperate closely with Kyiv, aiding in its recovery and rebuilding efforts alongside the G7 and other similar international allies. Backing Ukraine and resisting Russian aggression is of utmost importance, and she emphasized that starting membership talks with Ukraine should be Europe's main objective for this "brave nation," as well as for Moldova. She also vowed to make the expansion of the European Union a reality for the Western Balkans, fostering reconciliation and regional collaboration, while highlighting that bilateral disputes "should not be lasting barriers" to their chances of joining.

Ms. Kos voiced her backing for the United Nations' efforts to address the Cyprus problem, a key factor in shaping future EU-Türkiye relations. She affirmed her commitment to ongoing dialogue with Ankara, emphasizing a steadfast dedication to upholding human rights, democratic values, essential freedoms, and the legal system. Additionally, she pledged her support for initiatives aimed at promoting peace between Armenia and Azerbaijan.

It is essential to maintain the integrity of the expansion process.

During her responses to members of the European Parliament, Ms. Kos highlighted the importance of maintaining the integrity of the EU enlargement process by adhering to a merit-based system and respecting EU values. She concurred that taking specific steps towards gradual EU integration would positively resonate with the citizens of countries seeking membership. Ms. Kos emphasized that the enlargement process should be transparent, especially concerning financial expenditures, which should be monitored by specialized auditing bodies, and that it should be contingent upon candidate countries meeting the required criteria. Ultimately, the decision on a country's accession will rest with the member states and the EU, necessitating concurrent internal EU reforms to ensure readiness. She committed to engaging with civil society within member states and expressed optimism that MEPs will advocate for enlargement and communicate its advantages to their constituents.

Media briefing

Following the conclusion of the hearing, David McAllister, who is the Chair of the Foreign Affairs Committee and a member of the European People's Party from Germany, addressed the media outside the venue. The press briefing is available for viewing here.

Upcoming actions

The head and coordinators of the political groups within the Foreign Affairs Committee will convene promptly to evaluate the capabilities and credentials of the nominee for Commissioner.

Following the committee's suggestions, the Conference of Presidents, which includes EP President Metsola and the leaders of political groups, plans to carry out the concluding assessment and officially announce the end of the hearings on November 21. After this declaration, the evaluation letters are expected to be made public.

Members of the European Parliament are set to vote on the entire group of Commissioners, requiring a majority of votes through a roll-call process. This vote is slated for the plenary session in Strasbourg from November 25 to 28.

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Questioning Session for Climate Commissioner Nominee Wopke Hoekstra

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On Thursday morning, Wopke Hoekstra of the Netherlands, nominated for the role of Commissioner for Climate, Net-Zero, and Clean Growth, was examined by three separate committees.

As the hearing commenced, Mr. Hoekstra honored the victims of the recent flooding in Valencia, Spain, and emphasized the importance of enhancing Europe's preparedness for increasing climate-related threats.

During his opening remarks, the nominee for Commissioner emphasized his firm dedication to reaching climate neutrality by the year 2050. He pledged to introduce a European Climate Adaptation Plan and to evaluate the necessity for additional legislation in this sector, guided by the findings of the 2024 European Climate Risk Assessment. Furthermore, he proposed that EU financial resources should be allocated exclusively to projects that have been verified as adaptation-ready.

In response to inquiries from Members of the European Parliament, Mr. Hoekstra emphasized the importance of carrying out all existing climate-related laws. He recognized the valid worries of businesses and individuals regarding the expenses involved in meeting climate objectives, stressing that the shift must be equitable. Additionally, he pledged to incorporate a goal of reducing net greenhouse gas emissions by 90% by 2040 into the European Climate Law, aiming for the EU to achieve climate neutrality by 2050. He also vowed to strive towards eliminating all fossil fuel subsidies funded by the EU budget.

During discussions about worldwide climate agreements, multiple Members of the European Parliament inquired about Mr. Hoekstra's strategies for motivating international allies to adopt more aggressive climate policies. Mr. Hoekstra responded by emphasizing the necessity for the EU to take a firmer stance regarding its expectations from other nations. He pointed out that implementing global carbon pricing and the EU's Carbon Border Adjustment Mechanism are crucial strategies. The latter is also designed to deter companies from relocating their manufacturing operations beyond EU borders.

The European Union's Initiative for Sustainable

During the session, members asked Mr. Hoekstra about his plans to keep the EU competitive as it shifts to greener practices. In response, Mr. Hoekstra promised to introduce an EU Clean Industrial Deal within 100 days, aimed at helping EU businesses achieve climate targets. He also mentioned that the EU's efforts to mitigate climate change offer companies the chance to lead economically.

Members of the European Parliament inquired about the strategies the Commissioner-designate plans to use to encourage Member States to allocate funds from the EU Emissions Trading System specifically towards decarbonisation goals. The Commissioner-designate responded that this issue will be addressed during the 2026 review.

Several Members of the European Parliament inquired about the approach the Commissioner-designate plans to take in aiding the European automotive sector and whether the 2035 prohibition on combustion engines should be reconsidered. Mr. Hoekstra emphasized the importance of adhering to the established timeline to maintain industry stability. He also vowed to vigorously advocate for an equitable economic landscape for the EU's automotive, battery, and green technology sectors. Additionally, Mr. Hoekstra committed to enhancing the rollout of vehicle charging infrastructure and increasing investments in the power grid. He advised against revisiting the biofuels policy, suggesting a focus on advancing electrification instead.

He promised additional backing for the steel sector and Carbon Capture and Storage (CCS) technologies, stating that while CCS alone won't solve the climate crisis, its impact could be significant.

The System of

In response to increasing inequality, Mr. Hoekstra emphasized that those with more resources should bear a larger share of the burden, suggesting that this can be accomplished through international tax reforms. He pointed out that tax policies should support climate goals rather than hinder them. Additionally, he highlighted the importance of addressing tax loopholes and intensifying efforts to combat tax evasion.

Members of the European Parliament inquired about Mr. Hoekstra's strategies for promoting international tax initiatives and, should those efforts not succeed, what alternative plans he would propose specifically for the EU. They posed questions regarding the elimination of redundant laws, the pursuit of tax harmonization across the EU, the implementation of tax policies supportive of climate transition, and the introduction of a tax targeting frequent flyers.

In his responses, Mr. Hoekstra vowed to initiate a review aimed at reducing complexity by 2026. He mentioned that tax competition isn't the best approach, as it decreases tax income without effectively stopping businesses from exiting the EU. Additionally, he pledged to consider implementing some type of aviation tax.

You can view the complete hearing's video recording at this link.

Media briefing

Following the conclusion of the hearing, Antonio Decaro from Italy, who leads the ENVI committee, and Aurore Lalucq from France, the head of the ECON committee, addressed the press just outside the meeting venue. You can view their statements here.

Upcoming Actions

The leaders and coordinators of the committees responsible for Environment, Public Health and Food Safety, Industry, Research and Energy, as well as Economic and Monetary Affairs, are scheduled to convene promptly to review the qualifications and performance of the Commissioner-designate. Following the committees' suggestions, the Conference of Presidents—which includes EP President Metsola and the heads of political groups—will carry out the final assessment and conclude the hearings by November 21. After the Conference of Presidents finalizes the hearings, the evaluation letters will be made public.

Members of the European Parliament are set to vote on the entire group of Commissioners. This roll-call vote, which requires a majority to pass, is planned for the plenary session in Strasbourg from November 25th to 28th.

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Valdis Dombrovskis, the nominee from Latvia for the role overseeing Economy and Productivity, as well as Implementation and Simplification, faced inquiries from two committees on Thursday afternoon.

An intelligent and equitable economic system

During his opening remarks, Mr. Dombrovskis committed to enhancing the consistency, social justice, and unity central to Europe's economic framework.

According to Mr. Dombrovskis, the recently implemented economic governance regulations are suitable and effective. He assured that these rules will be applied "credibly and impartially." Mr. Dombrovskis also emphasized the necessity for the EU to present a unified front in global economic meetings, considering the current "more fragmented world." Additionally, he highlighted the importance of elevating the euro's influence globally.

Members of the European Parliament inquired about Mr. Dombrovskis's strategies for guaranteeing the comprehensive execution and adherence to economic governance regulations, while considering issues related to social welfare and cohesion. Some raised concerns that the existing EU governance structure might perpetually impose austerity measures on countries, as there were no changes made to the revenue aspects of fiscal stability.

Inquiries were raised regarding pledges to eliminate subsidies for fossil fuels, enhance the democratic oversight of the European Semester, which is the EU's economic coordination framework, evaluate the consequences of implementing the digital euro, and develop targeted initiatives for Eastern EU countries that are most affected by Russia's aggression against Ukraine.

Investment: a topic of widespread interest

Members of the European Parliament expressed worries about the potential for a shortfall in investments, particularly as the Recovery and Resilience Facility comes to a close. They inquired about the possibility of financing EU investments through shared Union debt. Additionally, they called for a dedicated mechanism to support the development of the defence Union and raised the question of whether it might be feasible to extend the repayment period of the NextGeneration EU debt.

Streamlining and execution

According to Mr. Dombrovskis, the European Union requires more straightforward regulations that are easier to enforce, while ensuring members of the European Parliament that the goals of these policies will remain intact. To reduce bureaucratic hurdles for businesses, he intends to leverage digital tools like the digital wallet and electronic identity.

The Commissioner-designate proposed a plan to cut down on the reporting requirements for businesses by a minimum of 25%, with small and medium-sized enterprises (SMEs) seeing a reduction of 35%. This involves evaluating all current regulations to determine their effects on both competitiveness and SMEs.

Highlighting the importance of sustainability reporting, he emphasized that the European Union should prevent major corporations from shifting their responsibilities onto small and medium-sized enterprises. He also noted that the EU has resources, like the SMEs support program, to help manage the expenses associated with compliance.

Mr. Dombrovskis stated that any challenges related to implementation will be addressed through new Implementation Dialogues with the businesses that are affected. He also pledged to initiate infringement procedures if member states fail to enforce agreed-upon regulations. Additionally, he plans to refresh the Interinstitutional Agreement on Better Law-Making to enhance the evaluation of the impact and cost of legislation, extending beyond just the proposals.

The complete hearing can be viewed in the video recording available here.

Media briefing

Following the conclusion of the hearing, Aurore Lalucq, who leads the Committee on Economic and Monetary Affairs (ECON), and Ilhan Kyuchyuk, head of the Committee on Legal Affairs (JURI), met with reporters outside the meeting venue. Their remarks are available for viewing. Additionally, the Commissioner-designate spoke to the media.

Upcoming Actions

The leaders and coordinators of the two political committees are set to convene promptly to evaluate the capabilities and credentials of the proposed Commissioner.

Following the suggestions put forth by the committees, the Conference of Presidents—comprising EP President Metsola and the leaders of political groups—is scheduled to complete the final assessment and officially close the hearings on November 21. After the Conference of Presidents concludes all hearings, the evaluation letters will be made public.

Members of the European Parliament are set to vote on the entire group of Commissioners, requiring a majority from those voting via roll-call, during the plenary session planned for November 25-28 in Strasbourg.

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Hearing for Commissioner-Nominee Piotr Serafin

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On Thursday, Piotr Serafin from Poland, who is the nominee for the roles involving budget, anti-fraud measures, and public administration, appeared before the Committees on Budgets and Budgetary Control for questioning.

During his initial remarks, Piotr Serafin advocated for a Multiannual Financial Framework (MFF) beyond 2027 that harmonizes emerging priorities like defense and digitalization with current policies related to climate, cohesion, and agriculture. He highlighted the importance of incorporating flexibility, simplicity, and maximizing the effectiveness of every Euro spent. Mr. Serafin suggested establishing a competitiveness fund to foster innovation and connecting member states' plans to reforms. He also committed to enhancing anti-fraud measures and ensuring rule of law protections for EU funds.

Upcoming Financial Strategies: The EU's Extended Financial Plan and Income Sources

During the session, numerous Members of the European Parliament concentrated on the framework of the forthcoming Multiannual Financial Framework (MFF), highlighting its crucial role in tackling the EU's changing issues. They requested detailed explanations on plans to manage the repayments of the "NextGenerationEU" (NGEU) debts while ensuring that critical programs such as cohesion, agriculture, and infrastructure investment are not compromised. Additionally, MEPs inquired about the funding sources for the new European Competitiveness Fund and how the MFF would sustain its backing for the Green Deal and the EU's biodiversity goals.

Mr. Serafin admitted that balancing various priorities under the existing budget limit, which is 1% of the EU's Gross National Income, is a difficult task. He promised to advocate for funding at the EU level, arguing that it is more economical than individual national expenditures. Additionally, he vowed to encourage member nations to explore new avenues for generating EU income, referred to as "Own Resources," to ensure a strong budget for the EU. He highlighted the STEP (Strategic Technologies for Europe Platform) initiative as an example that he believes could serve as a model for the proposed Competitiveness Fund.

Streamlining Financial Oversight: Easing Regulations, Fighting Fraud, and Maintaining Legal Integrity

A number of Members of the European Parliament (MEPs) expressed worries about the increasing error rate in the European Union's financial expenditures, as identified by the European Court of Auditors in their yearly reports. Addressing these concerns, Mr. Serafin explained that the "error rate" does not equate to corruption, fraud, or even conflicts of interest; rather, it mostly indicates administrative errors caused by excessively complicated regulations. To tackle this issue, he emphasized the importance of simplifying the rules related to EU spending, stating that obtaining EU funds shouldn't be a cumbersome bureaucratic process.

Regarding initiatives to combat fraud, Mr. Serafin suggested boosting collaboration between the European Anti-Fraud Office (OLAF) and the European Public Prosecutor's Office (EPPO). He committed to evaluating the current anti-fraud framework to reinforce these agencies and enhance their joint efforts.

A number of Members of the European Parliament inquired about the enforcement of the rule of law, particularly focused on strategies to stop member countries that do not adhere to common values from improperly using EU financial resources. Mr. Serafin pledged to create a stronger connection between the yearly rule of law assessments and the EU's financial planning. He also emphasized that any actions taken should be founded on solid legal principles rather than political considerations.

You can view the entire hearing's video recording by clicking here.

Media briefing

Following the hearing, Johan Van Overtveldt from the ECR party in Belgium and Niclas Herbst from Germany's EPP party, who serve as the Chairs of the Committee on Budgets and Budgetary Control, spoke to the press outside the meeting room. You can view their statements here.

Subsequent

The head of the committee and the coordinators from the political groups are set to convene promptly following the hearing to evaluate the Commissioner-designate's capabilities and qualifications.

Following the suggestions from the committee, the Conference of Presidents, which includes EP President Metsola and the leaders of the political groups, plans to complete the final assessment and officially conclude the hearings on November 21. After the Conference of Presidents announces the conclusion of all hearings, the assessment letters will be made public.

Members of the European Parliament are set to vote on the entire group of Commissioners in a roll-call vote, with a majority needed for approval. This vote is planned for the plenary session in Strasbourg, which is scheduled from November 25 to 28.

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Hearing for Commissioner Nominee Andrius Kubilius

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On Wednesday, the committees for Foreign Affairs and Industry, Research, and Energy conducted an inquiry involving Andrius Kubilius, Lithuania's nominee for the role overseeing Defence and Space.

In his opening remarks, Mr. Kubilius emphasized the pressing and enduring issues confronting European defense. These include existential threats like traditional warfare, hybrid attacks, and the militarization of space. He also noted the considerable lack of investment in defense, a highly divided European defense equipment market, and strategic competitors such as China and Russia surpassing Europe in defense expenditure. To tackle these issues, he called on MEPs to back his initiative to establish a true European Defence Union. He stressed that the EU should aid in developing the necessary capabilities and resources to support NATO's military deterrence and defense strategies without directly competing with NATO.

If Mr. Kubilius is approved for the position, he has pledged to release a white paper on the future of European defense within his first 100 days. The purpose of this document is to establish a new defense strategy and pinpoint the necessary investments to achieve comprehensive European defense capabilities. He emphasized the importance of increasing defense spending, improving spending efficiency, collaborating on spending, and focusing spending within Europe. This includes enhancing EU defense equipment production and demand, utilizing the EU budget to address critical urgent defense priorities, and making cross-border defense procurement easier. "We need to create a genuine single market for defense," he stated.

Regarding space, Mr. Kubilius emphasized that Europe should actively engage in the "space revolution." He highlighted the importance of further developing key EU space initiatives, securing independent European access to space, proposing new EU space legislation, and boosting the competitiveness of the European space sector.

Protection, adaptability, and readiness

Members of the European Parliament highlighted the importance of understanding defence, resilience, and preparedness within the framework of crises such as the COVID-19 pandemic or the recent severe flooding in Spain. They inquired about potential incentives for member states to increase their defence spending and explored options for enhancing the funding of production capabilities through the European Defence Industry Programme (EDIP). Mr. Kubilius pointed out that although preparedness requires substantial investment, it is more cost-effective than dealing with emergencies unprepared. Regarding financing, he suggested that the European Investment Bank could adapt its lending strategies and proposed that the upcoming multiannual financial framework should allocate more funds to defence and space initiatives. He also noted that even a modest rise in the defence budgets of member states could have a notable impact at the EU level.

Increase defense spending, not due to Trump, but because of Putin.

Numerous Members of the European Parliament inquired with the Commissioner-designate about the importance of prioritizing the acquisition of European-made defense equipment in EU policy. Mr. Kubilius emphasized the essential need for a robust and competitive industrial foundation in Europe over the long run, stating, "Our increased spending is necessary not due to Trump, but rather because of Putin."

Certain Members of the European Parliament expressed worries that a European Union military force might take the place of individual national armies. Mr. Kubilius emphasized that the EU's purpose is to promote shared sovereignty and collective responsibility. He clarified that the EU aims to support member nations in accomplishing goals collectively that they might not be able to achieve independently.

Media briefing

Following the conclusion of the hearing, David McAllister from Germany, who leads the Foreign Affairs Committee, and Borys Budka from Poland, the head of the Industry, Research and Energy Committee, addressed the press outside the meeting room. A video of this press point is available for viewing.

Following actions

The committee leaders and coordinators from the political groups will convene promptly to evaluate the abilities and credentials of the proposed Commissioner.

Following the suggestions made by the committee, the Conference of Presidents—which includes the EP President Metsola and the leaders of the political groups—is scheduled to carry out the concluding assessment and formally announce the closure of the hearings on November 21. After the Conference of Presidents completes this process and closes all hearings, the evaluation letters will be made public.

Members of the European Parliament are set to vote on the complete group of Commissioners, requiring a majority of the votes in a roll-call format. This vote is planned for the plenary session happening from November 25 to 28 in Strasbourg.

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