According to the project, the new institution will analyze budget and tax documents of public authorities and give opinions on their sustainability.
“This is the institution we really need. It will be independent. Such institutions exist in Austria, Holland and many countries. We have compared the practices of a number of countries and we are trying to find the best formula, but really it will be an institution affiliated to the parliament but independent. It will be able to carry out these independent assessments,” Marian said at a meeting of the European Integration Commission.
Marian cited the example of the UK, where there is the Office for Budget Responsibility, which is an independent institution and provides public comments and explanations on the government’s public fiscal policy.
“It has a very big influence on public opinion. In a way, we need an institution that offers not only support, but also a professional, impartial opinion on the fiscal policy proposed by the government, and we, the Parliament, can speak out on the outcome of that opinion and make a decision,” clarified the PAS MP.
So affiliated or independent?
On the other hand, Maya Sava, State Secretary of the Ministry of Finance, emphasized that experts recommended that this structure should be independent.
“In some countries they are subordinated to the Parliament, in others these powers are exercised by the Court of Accounts, but according to the latest changes, the status of an independent institution is requested. We are now discussing,” Sava emphasized.
Recall that the powers and tasks of the Tax Council will be as follows: assessing macroeconomic and budget forecasts, monitoring compliance with fiscal policy rules, evaluating public policy proposals that may have an impact on budget expenditures and/or revenues, as well as on their sustainability, etc. It is proposed that the Fiscal Council will become operational on January 1, 2028.
