S&Ds: 10 % less European investments through cohesion policy is a cut on taxpayer’s own finger

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Euro & Finance
The legislative proposals for the future European Cohesion Policy 2021- 2027 pave the way for a more simple, innovative and secure investment programme for all the regions in Europe. However, the S&D Group is strongly concerned about the tough reductions for investments and deeply disappointed to see again the macroeconomic conditionality in the Commission’s proposal. Following today’s legislative proposal presentation, Constanze Krehl, S&D’s coordinator in the committee for regional development (REGI) in the European Parliament, stated:
 
“We are strongly concerned about the tough reductions for investments in the European Cohesion Policy by more than 10% as calculated by the European Parliament. To make it clear: 10 % less European investments through cohesion policy is a hard cut on the taxpayer’s own finger. Every 1 Euro invested in cohesion policy has a proven return on investment by 174%. Less investment means less growth and jobs for citizens.
 
“We are also disappointed to see again the macroeconomic conditionality in the Commission’s proposal. We are strongly opposed to this kind of policy where regions are made responsible for their national governments. This is a permanent threat to growth and jobs in our regions.
 
“On the positive side, we welcome the simplification efforts put in place by the EU Commission reducing from eleven to five the policy objectives for a smarter, greener, more connected, social and territorial Europe closer to citizens. To conclude with the good news, the S&D Group also welcomes the broader integration of security. We will ensure social security and fundamental life security also through climate change mitigation.”
 
Background:
 
S&D position paper on the future cohesion policy in Europe