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The investment plan and the Social Pillar: a step towards a new strategy for Europe

The focus of the study is to analyse the progress of the Jobs, Growth and Investment Package and its contribution towards promoting more sustainable and inclusive growth. The study is based on the concept of inclusive growth, derived from the development literature: it not only states that growth with equity is possible, but also that equity is necessary for growth.

According to various stakeholders the Plan misses the opportunity to move in the direction of promoting a more inclusive EU. The Juncker  Plan, and the European fund for strategic investments (EFSI) in particular, pay little attention to long-term investment in social infrastructure and services and to the needs of disadvantaged population groups in the design and implementation of infrastructural investments. Social infrastructures represent in fact only 3% of all EFSI investments so far. A positive outcome of the Plan concerns the relevant role it is playing in promoting social entrepreneurship: the EFSI is supporting the European Investment Fund (EIF) to help exceptional numbers of European SMEs to access finance.

Investment Plan for Europe  (IPE) only partially tackles a few of the social pillars currently being worked on, even though IPE could push relevant opportunities to intervene by supporting many of the Pillars.

 

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The investment plan and the Social Pillar: a step towards a new strategy for Europe