06 / 11 / 2019
Eurogroup Ministers will discuss investments in R&I on 7 November
On Thursday 7 November, Eurogroup Ministers will discuss investments in Research & Innovation (R&I), as drivers of productivity and competitiveness in the Euro Area. EARTO very much welcomes the technical note by the European Commission’s DG Economic and Financial Affairs which:
- Highlights the relevance of investing in Research & Development (R&D) and intangible assets to boost productivity and innovation;
- Stresses that investments in R&I “can help boost convergence, resilience and adjustment capacity, which are important in the euro area”;
- Underlines that Europe underinvests in R&I, and in particular business expenditure;
- States that Europe has a relatively strong public research but performs less well in exploiting research results.
As far as R&I policies are concerned, the technical note underlines that:
- EU measures complement Member States’ initiatives on investment:
- Horizon 2020 has important European value added and the support to R&I is proposed to be further stepped up in the new Multiannual Financial Framework by expanding the proposed budget for the next research programme Horizon Europe to 100 billion;
- The European Semester puts emphasis on promoting investment across Europe, including in R&I;
- Boosting innovation is relevant for discussions on the Budgetary Instrument for Convergence and Competitiveness and on EU industrial policy.
- There is no one-size-fits all R&I strategy. A broad-based and coordinated policy effort is needed to promote effective innovation creation and diffusion;
- It is crucial to ensure the effectiveness and efficiency of investments;
- There is a need for a market environment conducive to innovation and its diffusion;
- The lack of financing often stifles R&I;
- The changing innovation dynamics call for more innovative policy-making responses.