Renew Europe presents its 10-point plan to relaunch EU’s competitiveness

Author: Alberto Cuena Vilches




Europe is losing its competitive edge in a global economy increasingly fragmented around China and the United States. We see it in the industrial firepower, in the agricultural sector, in the race to develop artificial intelligence... We believe the EU will not thrive without its key economic players and without a strong Single Market for businesses and industries in all sectors. Renew Europe wants to be at the forefront in developing proposals to secure a long-lasting strategy for a competitive, productive and innovative Europe, which also strengthens our Union’s sovereignty. The EU cannot become an economic relic and we will make this clear ahead of the topical debate on competitiveness, held at our request on Wednesday in Strasbourg.

From the creation of a new commissioner for enforcement, whose job should be to fully enforce all the existing legislation in a harmonised manner across the Union, to the adoption of an empowerment package for SMEs (95% of businesses in Europe), addressing concerns such as access to finance or the reduction of administrative burdens. Strengthening EU's position in the global innovation race, making Europe the world’s digital powerhouse, empowering the EU through global trade and tackling the talent deficit and skills shortages are also some of the proposed measures.

The paper has also been addressed to Mario Draghi, former ECB President, in a formal letter, in the framework of the report that, under the Commission's mandate, he is preparing with key solutions to enhance competitiveness in Europe, and which is foreseen for July 2024.

President of Renew Europe, Valérie Hayer, said:

"Falling competitiveness in Europe is an alarm bell that cannot be ignored. It is unacceptable for the EU to be left even further behind the US and China. We welcome the appointment of Mario Draghi to explore what steps are needed and this paper is our contribution to that common challenge. To restore EU's competitive edge, we need a long-term strategy tailored to the real needs of industries and businesses. We cannot fall for the false dichotomy of the far right of choosing between saving the planet or the competitiveness of our agricultural sector, or the protection of digital rights versus innovation. Let's make the EU leader for global economy of tomorrow".

Renew Europe MEP Morten LØKKEGAARD (Venstre, Denmark’s liberal party), Renew Europe Vice-President and Chair of the working group on Economy and Digital Transformation of the Renew Europe Group in the European Parliament, stated:

“We have lost our competitive edge in the global economy, and this demands urgent political action. We owe it to our European businesses to make it easier for them to thrive and create growth. Our 10 proposals will help European businesses by reducing red tape and strengthening focus on enforcement, among other things. We have to act now to before it is too late. The outcome of the elections will play a key role in shaping our businesses future”

Note to Editors:

Position Paper “Regaining our competitive edge”

Letter to Mr. Draghi


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