Prosperity & Digital Future
Paying the bills and putting food on the table are top priorities for most families, that's why fostering Europe’s prosperity is ours. Over the past five years, we protected and strengthened our economies after the pandemic, advanced Europe’s energy independence, and backed green investments to drive sustainable growth. We see major opportunities in the digital transition — pioneering cryptocurrency rules, introducing the world’s first AI law, and reinforcing cybersecurity.
1.1 THE RECOVERY PLAN
Build a stronger Europe in the face of the global Covid pandemic
The global COVID-19 pandemic could have brought the European economy on its knees. Instead, Europeans stood united, put old disagreements aside and built together a historic recovery plan, initiated by Renew Europe, to restart the economy after months of lockdowns.
Born out of a call for solidarity and unity in response to the pandemic, the recovery plan represents the EU’s largest-ever financial instrument - no less than €723.8 billion. Its primary goal was to address the economic and social fallout of the pandemic, and gear investments towards green and digital transitions so we would not pour money into old sectors but start anew. Almost 40% of the recovery plan goes to climate expenditure and 20% on digital projects.
1.2 THE REPOWEREU INITIATIVE
Delivering a green energy boost for Europe's future
We campaigned and helped to deliver the move away from using Russian fossil fuels and the transition towards cleaner, greener energy sources.
The EU is committed to a clean energy future. And this can only happens if we are independent of Russia’s fossils fules and are not exposed to energy blackmail. Russia’s invasion of Ukraine highlighted the need for a rapid EU-wide plan to achieve energy independence and promote green energy.
REPowerEU is that plan. It provides extra cash (€20 billion, no less) for making homes and industries more energy-efficient, helping people who struggle with energy costs as well as small businesses. Each country can use this money in their own way, as long as it is targeted to reach the EU’s energy and climate goals.
1.3 EU’S LONG-TERM BUDGET
Show me your budget, I'll tell you what you value
Thanks to Renew Europe, the European Parliament achieved additional investments of €16 billion for EU programmes.
Something never seen in history before, MEPs tripled funding for health and a minimum of 30% of EU funds will be spent on climate and 10% on biodiversity. Renew Europe ensured the establishment of a Rule of Law conditionality mechanism that now protects the Union’s budget and our values.
1.4 FUNDING EUROPE’S FUTURE
Taxpayers alone shouldn't foot the bill
In 2020, the EU launched a €750 billion recovery plan. That money was borrowed and it will have to be paid back. We found new sources of revenue (“own resources”) to pay back parts of this debt.
The EU budget is mainly financed through transfers from the treasuries of EU countries into the budget of the European Union. Ultimately, this is taxpayers’ money. Renew Europe advocated for new resources to be found, genuine European ones, i.e. money that can only be levied at EU level. We scored some victories in that regard.
In 2021, we set up an EU tax on plastic waste. More sources of income, such as taxes related to carbon emissions and profits of large multinational companies are now being considered. These new sources could bring in over €36 billion per year. We also argue we should be bolder and have taxes on digital giants to pay off the debt incurred by the EU recovery plan.
1.6 WE PIONEERD
CRYPTO REGULATION
We have witnessed a surge in cryptocurrencies, a digital form of currency that has taken the financial industry by storm. The European Union is the first region of the world regulating this new digital frontier.
Something never seen in history before, MEPs tripled funding for health and a minimum of 30% of EU funds will be spent on climate and 10% on biodiversity. Renew Europe ensured the establishment of a Rule of Law conditionality mechanism that now protects the Union’s budget and our values.
1.5 WE CRACKED DOWN ON CROOKS
Led the fight against money laundering
After several scandals, it was time to step up the fight against money laundering.
Europeans have been left dismayed by a series of scandals that put economic self-interest above justice and fairness, affecting their hard-earned money. Every EU citizen loses €5 a day due to money laundering. That is almost €1,800 a year. This is unacceptable. Moreover, this money is used to finance wars and terrorism. This has to be stopped.
1.7 DIGITAL REGULATION
We made the internet safer and fairer
What is illegal in the physical world should also be illegal online.
The connected world we live in has brought many benefits. But it also poses challenges. Manipulative algorithms have been used to spread misinformation and large platforms have wielded disproportionate power in digital markets.
The adoption of two important laws, the Digital Services Act (DSA) and the Digital Markets Act (DMA), along with the new General Product Safety Legislation (GPSR) create a safer and more transparent online environment while offeringmore choices for consumers
1.8 ENSURING FAIR AND TRANSPARANT AI
The new rules you need to know
Artificial intelligence is rapidly becoming a part of our daily lives, influencing how we work, play, and access essential services like food delivery, finance, and healthcare. These evolving technologies bring numerous benefits but also carry risks if not properly regulated. The ground-breaking action we have led to regulate AI will help shape the future by providing a framework for responsible AI use.
Artificial intelligence is all around us, offering exciting possibilities and opportunities. While it is a fascinating field, it can also be a source of concern due to its opaque inner workings, potential for unethical use, and uncertainty about its impact on our jobs. However, we have taken a significant step to address these concerns by adopting the AI Act, which establishes strict rules, transparency, and governance to make AI safer and more responsible.
The AI Act aims to establish consistent regulations for artificial intelligence. It ensures that AI systems entering the market and being used are safe, while also respecting fundamental rights and values. Additionally, it provides legal clarity for companies developing AI, encourages research and innovation, and fosters a robust European market for trustworthy and secure AI.
1.9 DIGITAL SECURITY
We improved our cybersecurity in a changing world
Renew Europe is at the forefront to define the legislation that is needed to increase cybersecurity throughout the Union, making sure we combat cybercrime effectively and online goods and services are safe for the consumers.
Our lives are increasingly intertwined with Our lives are increasingly intertwined with technology. Our phones hold our most detailed information. Yet, we tend to overlook the security aspect of our connected lives. This is no trivial matter. Cyber threats are on the rise. Cybercrime doubled in 2019, ransomware tripled in 2020. This is posing risks not only to our privacy but also our economy, and even national security.
1.10 CONNECTIVITY IS PARAMOUNT
Accelerating connectivity across Europe
In a digital age where connectivity is paramount, Renew Europe is spearheading efforts to expedite the deployment of high-speed internet infrastructure across the Union.
The Gigabit Infrastructure Act (GIA) stands as a pivotal tool in realizing our ambitious 2030 digital decade targets, ensuring that no citizen or business is left behind in the digital revolution.
At its core, the GIA aims to facilitate the rapid deployment of high connectivity, including fiber and 5G networks, through several key measures. Firstly, it seeks to shorten and harmonize the permit process for telecom network operators, simplifying bureaucratic hurdles and reducing administrative burdens. Secondly, the act promotes better coordination among all network operators, including gas, water, and telecom companies, streamlining civil works and expediting network deployment. Additionally, the GIA mandates that all new constructions incorporate high connectivity access points, laying the foundation for a digitally inclusive future.
1.11 SECURING OUR STRATEGIC AUTONOMY
Launching an EU-made communication satellite constellation
The European Union has made a big step forward to launching its own telecommunications satellite constellation.
Our American counterparts are launching communication satellites worldwide but the EU decided to maintain control over strategic and secure communication. Europe is investing € 2.4 billion to launch the first-ever EU-made communication satellite constellation by 2027. Private companies can also join in and offer additional services, such as internet access in remote areas, on top of the government’s offerings.
1.12 FISCAL STABILITY AND COMPETITIVENESS
Renew Europe secured new economic rules for fiscal stability, competitiveness and growth
Renew Europe is committed to building a resilient and competitive Europe, ready to face the challenges of today and tomorrow.
Renew Europe has fought for a significant breakthrough in European economic policy. Following intensive negotiations, an agreement has been on the Economic Governance Review. This landmark agreement paves the way for an updated economic governance framework.
As we come closer to the reactivation of the Stability and Growth Pact in 2024, Renew Europe led negotiations in shaping a new framework. The economic challenges of recent years have been significant, but with this new framework, Member States can work towards sustainable debt levels while also investing in our future and tackling climate change. These investments are crucial for the EU to assert itself as a leading geopolitical force in a world that is becoming increasingly unpredictable.
Consumer & Businesses
European businesses, large or small, are the motor of the European economy.
