The EESC welcomes the Investment Plan for Europe for its contribution to the promotion of investment in the EU. The Committee calls for clearly set investment targets, regulatory simplification and further guidance in order to achieve greater geographical and sectoral balance. The EESC advocates for strengthened financial capacity for the InvestEU programme within the Multiannual Financial Framework 2021-2027 and calls for more efforts to raise awareness among European businesses and citizens about the benefits obtained from the Investment Plan for Europe.
Annual Growth Survey 2019 (additional opinion) - Related Opinions
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The objective of this proposal is to provide an update of EESC's positions related to the cohesion package presented by the Commission on May 2018. While the discussions in the Council and the Parliament are still ongoing, this opinion will reflect better the developments in view of a successful cohesion policy in the post-2020 period.
The Romanian presidency who has asked for this opinion proposes that the conclusions drawn in this opinion could stimulate the informal ministerial debate of the cohesion ministers to be held in April 2019.
The EESC is of the opinion that building economic resilience, an objective that underlies the recommendations of the European Commission on the economic policy of the euro area, is of the utmost importance for the euro area economies. However, the Committee would like to stress that the pursuit of economic resilience should go hand in hand with increased labour market resilience, that is, the capacity of labour markets to weather shocks with limited social costs.
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.
Delivering on balanced economic growth and social progress should be the guiding principle for the debate on the social dimension of Europe. A clear road map for the implementation of European Pillar of Social Rights is advisable with clear assignment of tasks coupled with accountability. The social dimension debate is connected to the debate on deepening the EMU. Social policy has to be embedded in a different EU economic policy. A strong EU can shape globalisation and digitalisation to the benefit of all.
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