The opinion examines the possible introduction of a new concept into EU law: "low-profit". This concept would define all organisations that are likely to make a profit but that do not intend to distribute it to their owners or shareholders, as they have a different purpose.
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.
The European Economic and Social Committee backs up the Coronavirus Response Investment Initiative of the European Commission. The initiative is aimed at promoting investment in the healthcare systems of the European Member States and other sectors of their economies in response to the COVID-19 pandemic. To this end, the EU would mobilise cash reserves, i.e. unspent pre-financing for EU funds, and provide financial support.
The European Economic and Social Committee (EESC) firmly believes that infringements of human rights can be better prevented when there is an internationally agreed binding standard implemented and protected by states. Therefore, in an opinion adopted at its December plenary session, the EESC supports the United Nations Human Rights Council initiative to adopt a binding UN treaty to regulate businesses activities, including sanctions in case of violation of international human rights law.
EESC debate takes stock and discusses steps to take
9 October 2019 – Helsinki – Extraordinary meeting of the Workers' Group
On 25 September 2019, the European Economic and Social Committee voted on the opinion SOC/614 – The European Pillar of Social Rights – evaluation of the initial implementation and recommendations for the future. The document was adopted with 117 votes for, 44 votes against and 3 abstentions. The majority of the Employers' Group members voted against the opinion as the document does not present the variety of views within the EESC in a balanced manner. That is also why the members of the Employers' Group tabled over 40 amendments to the opinion.
The EU should amplify the voice of those standing up for rights and freedoms and involve them more closely in its work to safeguard the rule of law