Opinions with Employers' Group members as rapporteur/co-rapporteur/rapporteur-general
The EESC welcomes the fact that the package of regulations on the future multiannual financial framework includes the InvestEU proposal to strengthen investment activity in the EU, including long-term investment projects that are of high public interest, while also respecting the sustainable development criteria. In order to guarantee that this programme operates successfully, the Committee underlines the importance of the involvement of civil society organisations and social and economic partners. The EESC appreciates the European Commission's efforts to create an umbrella financial instrument by the InvestEU programme that will result in unified management, enhanced transparency and potential for synergies. The EESC appreciates the fact that, in addition to promoting sustainable infrastructure, small and medium-sized enterprises (SMEs) and research and innovation, the InvestEU programme also focuses on social investment and skills.
The Committee believes that the amount of funding allocated is insufficient considering the aims to be pursued and considers it important to provide equipment with the commensurate speed to those customs offices under greatest pressure to carry out controls, such as sea border offices.
The EESC supports the proposals that enhance the international competitiveness of SMEs, reduce cost, harmonise and simplify processes for registration, filing of company changes and conversions. It believes that guidance by the Commission to the Member States on transposition of the directives is useful.
The EESC welcomes in principle the integration of five predecessor programmes (and of the European Statistical Programme, though that extends beyond the scope of the single market) and a number of budget headings into a single market programme, as it can be expected to produce synergies and improve cost efficiency. Due to steadily increasing volume of work in consumer protection policy EESC urges the Commission to further develop cooperation with consumer networks and organisations and to increase funding for consumer protection. It is also concerned that the negotiations on the EU financial framework could result in cuts and thus in a lower budget than in the past.
The European Economic and Social Committee (EESC) welcomes the fact that the European Commission has established a Digital Europe programme, which underscores the intention to make Europe a leading player in digitalisation and to increase its economic strength and competitiveness on the world stage. The aim of the Digital Europe programme is to enable a digital single market and to shape the digital transformation in a positive way for all citizens of Europe.
The EESC welcomes these proposals on sovereign bond-backed securities (SBBSs), which fit into the broader context of completing the Banking Union and building a Capital Markets Union (CMU). Moreover, the proposals also have the potential to make a positive contribution to financial stability and resilience. The EESC has been strongly advocating a weakening of the link between banks and their home countries ("sovereigns") and therefore welcomes that SBBSs aim to contribute to this. The EESC considers that in conceptual terms, the idea of SBBSs is an attractive one and feels that the only way to find out whether banks will switch from bonds from their home countries to SBBSs for their investments and whether investors will be prepared to buy "junior" tranches in sufficient quantities to justify the creation of SBBSs, is to test this new financial instrument - the SBBS - on the market.
The EESC supports the Commission's Action Plan on financing sustainable growth, aimed at reorienting capital flows towards sustainable investment, and welcomes the legislative proposals stemming from it, on fiduciary duties, a taxonomy and benchmarks. The proposed gradual approach for its implementation, beginning with the work on a European sustainability taxonomy, is preferable. However, a subsequent extension of the initial taxonomy, based on environmental aspects, to social sustainability and governance goals will be necessary. Attention should be paid to the feasibility and proportionality of legal obligations.