Making a reality of the European Pillar of Social Rights (the "Social Pillar") will require improvements in Member States and a robust budgetary base, investment and current spending.
More public investment within Member States can be facilitated by reference to a Golden Rule for public investment with a social objective, which would allow more flexibility in budget rules with a view to achieving the aims of the European Pillar of Social Rights. More public investment can also be supported by the use of existing EU instruments, especially the European Structural and Investment Funds (ESIFs), and by the European Fund for Strategic Investments (EFSI). This support should explicitly include objectives linked to the Social Pillar.
Appropriate taxation policies, including effective fight against tax fraud, tax avoidance and aggressive tax planning, should allow Member States and the EU to raise additional means to contribute to the financing of the Social Pillar.