High Council of Finance

	Who we are and what we do
	Our internal organization
	Historical overview of the High Council of Finance
	Overview of the institutional development of the High Council of Finance
		Members of the High Council of Finance
		How to contact the High Council of Finance?
		Reports of the High Council of Finance, only available in French or Dutch

Send an e-mail if you wish to be informed about the publication of new reports of the High Council of Finance (Dutch or French only).

Who we are and what we do

The members of the High Council of Finance are high level experts. 

Tasks

The members of the High Council of Finance:

		analyse and study fundamental budgetary, financial and fiscal issues;
		suggest adaptations or reforms.

They can act on their own initiative or at the request of the Federal Minister of Finance or the Minister of Budget.

See also "Fiscal Councils, independant forecasts and the budgetary process: lessons from the Belgian case" (430k). 

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Internal organization

The Bureau

A Bureau created within the High Council of Finance organizes the activities of the High Council.

Structure of the High Council of Finance: two permanent sections and a study group

Since the reform of April 2006, the High Council of Finance counts two permanent sections and a Study Group on Ageing.  

	1. Section "Public sector borrowing requirement"
		Each year, this section publishes two reports:  in March, an assessment of the implementation of the stability program in Belgium during the previous year; in June, the Section's annual report, which analyses (as required by the special Law of June 16, 1989) the borrowing requirement of each of the local governements as well as the budgetary policy to be adopted. On the other hand, the Section may give its opinion, on its own initiative or upon request of the federal Minister of Finance, as to the advisability of restricting the borrowing requirement of one or more authorities, depending on the necessity : not to endanger the economic and monetary union; to avoid a structural derailment of the borrowing requirements. Composition (from March 2012 onwards)
	2. Section "Taxation and social security contributions"
		High-level experts, qualified to give opinions about any issues, general or specific, in the field of taxation and social security contributions. Composition (from March 2012 onwards)
	Study Group on Ageing
		The law “guaranteeing the continuing reduction of public debt and the creation of an Ageing Fund” created a Working Group on Ageing. (Law of 5 September 2001).  The Working Group has to publish an annual report concerning the budgetary and social consequences of ageing.

Deliberation by the plenary council

The Plenary Council comprises all the members of the High Council. Il discusses the matters submitted to it by the Minister of Finance or any other financial, fiscal or taxation matter.

The federal Minister of Finance presides the Plenary Council.

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Historical review of the High Council of Finance

You can download a pdf-file (125 Kb) about the history of the High Council of Finance: "Bondige geschiedenis van de Hoge Raad van Financiën" (availible in Dutch only). 

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Overview of the institutional development of the High Council of Finance 

You can download a pdf-file (283 Kb) about the institutional development of the High Council of Finance: Institutionele geschiedenis van de Hoge Raad van Financiën 1936-1996" (available in Dutch only). 

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