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The EESC believes that income and wealth inequalities in the EU have become economic and social challenges that should be addressed with appropriate measures at national level and with the support of EU-level action.
A well-functioning system of social transfers and social assistance is thus needed. Fiscal redistribution should to a large extent complement the gaps in the market system. Public assets (social infrastructure, facilities for services in the public interest, etc.) should be developed as a means of addressing inequalities. And fiscal income should be shifted from labour-based taxation towards a more wealth-based one, with taxation on inheritance and capital income. Overall, Intensive economic growth is key to reducing poverty and wealth inequalities.
The EESC wishes to highlight changes in mindsets in companies that are paving the way to new or adjusted business models. Sustainability is a strategic issue in the World Business Council for Sustainable Development and in similar national initiatives as well as in the preparation of sectoral low-carbon roadmaps at EU level. Changes in the focus and structure of companies and in international value chains are bringing new business models into being.
The EESC stresses that a real growth strategy at EU and national level is needed to support the creation of better and more stable jobs for young people.
The EESC fully backs the objective of switching to a greener, resource-efficient and circular economy. It is happy to see that the Commission has come forward with a broader set of proposals covering all the stages of the product lifecycle compared to the previous circular economy package; however, it raises concern over the lower level of ambition, which is likely to lead to lower economic and environmental benefits.
The EESC endorses the aims of the Commission proposals in the area of the CCCTB and recommends the greatest efforts be made to pursue the CCCTB by consensus. The Committee recognizes that the Commission relaunched the CCCTB proposal both with the objective to aid the single market and to combat aggressive tax planning, attributing income where the value is created.
This opinion is on the Annual Growth Survey 2018 (AGS), which establishes the main economic priorities and provides policy guidance for the following year. The European Commission published the 2018 AGS on 22 November 2017 as part of the European Semester Autumn Package. The 2018 AGS is focused on fostering job creation and growth and establishes three main priorities: boosting investment to support the recovery and to increase long-term growth; structural reforms for inclusive growth, upward convergence and competitiveness; responsible fiscal policies to support sustainability and convergence.