Article 2 Definitions
United Kingdom
For the purposes of this Regulation, the following definitions shall apply:
‘independent bodies’ means bodies that are structurally independent or bodies endowed with functional autonomy vis-à-vis the budgetary authorities of the Member State, and which are underpinned by national legal provisions ensuring a high degree of functional autonomy and accountability, including:
- (i)
a statutory regime grounded in national laws, regulations or binding administrative provisions;
- (ii)
not taking instructions from the budgetary authorities of the Member State concerned or from any other public or private body;
- (iii)
the capacity to communicate publicly in a timely manner;
- (iv)
procedures for nominating members on the basis of their experience and competence;
- (v)
adequate resources and appropriate access to information to carry out their mandate;
‘independent macroeconomic forecasts’ means macroeconomic forecasts produced or endorsed by independent bodies;
‘medium-term budgetary framework’ means medium-term budgetary framework as described in point (e) of Article 2 of Directive 2011/85/EU;
‘stability programme’ means stability programme as described in Article 3 of Regulation (EC) No 1466/97.
In order to ensure consistency across the independent macroeconomic forecasts referred to in point (b) of the first subparagraph, the Member States and the Commission shall, at least annually, engage in a technical dialogue concerning the assumptions underpinning the preparation of macroeconomic and budgetary forecasts in accordance with Article 4(5) of Directive 2011/85/EU.
The definitions of ‘general government sector’ and of ‘subsectors of the general government sector’, set out in point 2.70 of Annex A to Regulation (EC) No 2223/96 of 25 June 1996 on the European system of national and regional accounts in the Communityf1 shall also apply to this Regulation.
The application of this Regulation is without prejudice to Article 9 TFEU.