European Semester Autumn Package

The von der Leyen Commission has just launched a new European Semester cycle, the first of its mandate. It presents an ambitious, rebooted growth strategy focused on promoting competitive sustainability to build an economy that works for people and the planet.

Valdis Dombrovskis, Executive Vice-President for An Economy that Works for People, said: “A profound transformation of our economic model is underway. Climate change, digitalisation and changing demographics require us to adapt our economic policy, so that Europe remains a competitive force on the world stage and does so in a way that’s sustainable and fair. At the same time, we need EU countries to strengthen their defences against the global risks on the horizon. I invite countries with fiscal space to further boost investment and those with a high level of debt to bring it down.”

Paolo Gentiloni, Commissioner for Economy, said: “Starting today, we place the climate transition at the heart of our economic governance. Because when we say the European Green Deal is Europe’s new growth strategy, we mean it. One of my top priorities in the first year of my mandate will be to integrate the UN’s Sustainable Development Goals into the European Semester. It is vital that we make a success of this important change to European economic policymaking.”

Nicolas Schmit, Commissioner for Jobs and Social Rights, said: “The new strategy integrates the principles of fighting inequalities and the pursuit of upward economic and social convergence enshrined in the European Pillar of Social Rights. The number of people in work today is at a record high, but disparities persist. In a fast changing world and an economy where innovation is key, we have to facilitate better access to the labour market and invest more in skills for those who need to adapt to the digital and green transition, especially the most vulnerable. Social fairness must be integral to every part of this new workstream.”

Press release and a memo are available online.

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