revenue offsetting expenditure

appropriations in aid

income-offsetting budgetary expenditure

The strong reduction in investment activities levelled off during the second half of 2003, making the capital expenditure-to-revenue ratio tend towards a stable rate in the range of 12 to 15 per cent.

13. RECALLS that credible fiscal adjustment strategies firmly anchored in effective governance frameworks enhance confidence and thereby mitigate the short-term effects of fiscal consolidation on growth, which should be further contained by choosing an appropriate mix of measures on the expenditure and revenue sides of government budgets; and EMPHASIZES that there is a need to devise an overall growth-friendly mix of revenue and expenditure, with targeted measures within the overall fiscal st ...[+++]rategy to protect and if possible strengthen key growth drivers and essential social safety nets while increasing the efficiency and the effectiveness of spending. In particular, investments in education, research, innovation and energy should be prioritised, while ensuring and where necessary improving their efficiency.

15. Recalls that the key element in the relationship between growth and consolidation is the composition of consolidation; stresses that the appropriate mix of expenditure- and revenue-side measures is context-dependent and should be thoroughly assessed; points out in this regard, however, that consolidations based on cutting unproductive expenditure rather than on increasing revenue tend to be more lasting and more growth-enhancing in the medium term, but more recessive in the short term; is of the opinion that consolidation strat ...[+++]egies need to mitigate short-term recessive impact while aiming at being growth-enhancing in the medium term; believes that the possible negative impact of consolidations in the short run can be mitigated, in particular provided that the measures taken are credible, lasting and avoid a reduction in public investment in productive sectors of the economy;

86. Underlines the need for a horizontal approach, combining measures to combat climate change and to reduce greenhouse gas emissions - in particular energy saving measures - in all relevant policy areas, including external policies; is convinced that well-placed incentives such as conditionality of EU expenditure and legislation are the key elements in order to achieve the Europe 2020 targets in this field; considers, consequently, that climate actions should be mainstreamed in all relevant sections of expenditure including the external one, and climate impact assessments should be conducted for new projects; considers that larger sh ...[+++]ares of the European emission trading scheme revenues should be invested in mitigation and climate innovation;