Third reading of the Draft Act amending the Act on Precious Metal Products, the State Fees Act, and the Equipment Safety Act (363 SE)
Session: 15th Riigikogu, 3rd sitting, plenary session
Date: 2024-04-16 13:51
Participating Politicians:
Total Speeches: 11
Membership: 15
Agenda Duration: 21m
AI Summaries: 11/11 Speeches (100.0%)
Analysis: Structured Analysis
Politicians Speaking Time
Politicians
Analysis
Summary
During the third agenda item, the third reading of Draft Act 363, initiated by the Government of the Republic, amending the Precious Metal Products Act, the State Fees Act, and the Equipment Safety Act, was discussed. The draft act is technical, but it has a significant impact on the economic structure and the state’s financial stability, as it concerns the production and marketing of precious metals and the state’s potential reserve strategies. Negotiations began between the parliamentary factions, and the discussion centered on the role of gold and the possible increase of the state reserve against the backdrop of pronounced inflation and uncertainty in the financial system.
Leo Kunnas, representative of the EKRE faction, presented a thorough and extensive explanation of the importance of gold in economic and security policy, referring to gold price changes and the history of the monetary system. He emphasized that a gold reserve should be part of the state’s preparedness for potential financial crises, and pointed out that the end of the dollar-gold standard since 1971 has introduced various risks to the stability of the monetary system, specifically in the form of increased inflation and debt levels. Subsequently, questions were raised about how to ensure authenticity and security, and what practices are necessary for checking the marking and weight of gold products on the market. Isamaa and other factions presented their own observations and concerns regarding the marking of certified weights and the functioning of market surveillance. Referral to the final vote passed as a proposal from the leading committee; the official final adoption and voting result followed immediately after the recess.
Decisions Made 1
The final vote was carried out and bill 363 was adopted: For 61, against 0, abstentions 0.
Most Active Speaker
The most active speaker was Leo Kunnas (EKRE faction). He represents the right wing (right).
Aseesimees Toomas Kivimägi
AI Summary
The Riigikogu begins the debate on Bill 363 of the third reading and opens discussions between the parliamentary factions; Leo Kunnas requests the floor on behalf of the EKRE faction.
Leo Kunnas
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
The speaker immediately requests three additional minutes from the esteemed Chair of the session.
Aseesimees Toomas Kivimägi
AI Summary
Deputy Speaker Toomas Kivimägi requested an additional three minutes.
Leo Kunnas
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Leo Kunnas stressed that while the draft bill is technical and the faction supports it, Estonia should nonetheless consider establishing its own gold reserve for crisis situations. This is necessary because the instability of the monetary system, the termination of the dollar-gold standard, and the rising price of gold all point to the need for a reserve that guarantees financial stability.
Aseesimees Toomas Kivimägi
AI Summary
Toomas Kivimägi thanks the chair and yields the floor to Mart Maastik on behalf of the Isamaa faction.
Mart Maastik
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Mart Maastik pointed out that the law permits the sale of gold products even in open markets, which raises questions regarding how authenticity is guaranteed and why hallmarks are missing. He also hinted that this might be legislation intended for gypsies, stressing the need for public confidence and an effective fight against counterfeit goods.
Aseesimees Toomas Kivimägi
AI Summary
Toomas Kivimägi concludes the negotiations, thanks you for the efficient use of time, and announces the leading committee's proposal to hold the final vote on Bill 363, while simultaneously calling upon Helle-Moonika Helme.
Helle-Moonika Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
He announces that he will take a ten-minute break before the vote, as has become customary.
Aseesimees Toomas Kivimägi
AI Summary
Deputy Chairman Toomas Kivimägi announced that the break would last ten minutes.
Aseesimees Toomas Kivimägi
AI Summary
Toomas Kivimägi declared the recess concluded. We will now continue the plenary session, and he is submitting for the final vote Government-initiated draft bill 363, which amends the Precious Metal Articles Act, the State Fees Act, and the Equipment Safety Act, requesting that you take a position and cast your vote.
Aseesimees Toomas Kivimägi
AI Summary
Bill 363 was adopted as law: 61 voted in favor, 0 against, and 0 abstained.