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EU response to crisis

EU response to crisis. On 26/11/8 the European Commission launched a European Economic Recovery Plan What’s in that package? How does the package link in with Electra? Next steps?. 1. What’s in the package?. Basic points:

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EU response to crisis

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  1. EU response to crisis • On 26/11/8 the European Commission launched a European Economic Recovery Plan • What’s in that package? • How does the package link in with Electra? • Next steps?

  2. 1. What’s in the package? Basic points: The plan proposes a fiscal stimulus of 1,5% EU GDP or € 200 billion The larger part should come from national budgets (€ 170 billion) and € 30 billion from EU budget and EIB 2

  3. 1. What’s in the package? • The member states are ‘invited’ to choose from a list of predefined policy options for spending their € 170 billion: • Support for poor / unemployed • Funding large infrastructure projects (energy networks / broadband internet) • Temporary VAT cuts + lowering taxes on labour.

  4. 1. What’s in the package? • Framework for measures to be taken • Greater flexibility with regard to the Stability and Growth package: countries can have bigger deficits than 3% • But… measures taken need to be coherent with the EU’s longer term objectives: fighting climate change and the Lisbon Strategy

  5. 1. What’s in the package? • Varied reactions: • European Parliament & European Business organisations quite positive • EU 27 Finance Ministers call the Commission proposal “nothing but a PR manoeuvre”; broad opposition to VAT cuts like in UK; member states ask for more flexibility on state aid.

  6. 1. What’s in the package? • Orgalime’s assessment of the package: • “relatively weak compared to the equivalent in the USA”; • “does not seek to postpone initiative under the Climate Change programme”; • but – positively – it steers investment in energy efficiency infrastructure. Here it links in very much with our Electra recommendations.

  7. Recommendation 1. “mobilise economically attractive investment potential in buildings, industry and other sectors.” Recommendation 4. “ensure ambitious and visible investment plans in public infrastructures and buildings” Recovery package 2.3.2. c) “The key to maximising benefits and minimising costs is to target opportunities to boost energy efficiency […] of buildings, lighting, cooling and heating systems […] vehicles and machinery.” 2. How does the package link in with Electra?

  8. Recommendation 1. “mobilise economically attractive investment potential in buildings, industry and other sectors.” Recommendation 4. “ensure ambitious and visible investment plans in public infrastructures and buildings” Recovery package 2.3.1. b) “package of € 30 bn of EIB loans to SMEs; € 1 bn a year extra EIB-lending to mid-sized corporations; €1 bn a year extra via EIF for mezzanine finance facility” 2.3.2. c) “EIB increases financing of climate change, energy security and infrastructure investments up to € 6 bn a year” 2. How does the package link in with Electra?

  9. Recommendation 1. “mobilise economically attractive investment potential in buildings, industry and other sectors.” Recommendation 4. “ensure ambitious and visible investment plans in public infrastructures and buildings” Recovery package 2.3.1. b) “Simplification State Aid, this should be channeled through horizontal schemes aimed at Lisbon obejectives, notably research, innovations, training, environmental protection, clean technologies, transport and energy efficiency.” 2. How does the package link in with Electra?

  10. Recommendation 1. “mobilise economically attractive investment potential in buildings, industry and other sectors.” Recommendation 4. “ensure ambitious and visible investment plans in public infrastructures and buildings” Recovery package 2.3.2. c) “for 2009 and 2010 the Commission proposes to mobilise and additional € 5 bn for trans-European energy interconnections and broadband infrastructure projects.” 2. How does the package link in with Electra?

  11. Recommendation 1. “mobilise economically attractive investment potential in buildings, industry and other sectors.” Recommendation 4. “ensure ambitious and visible investment plans in public infrastructures and buildings” Recovery package 2.3.2. c) “MS should re-programme structural funds to devote a greater share to energy efficiency investments, including where they fund social housing” “MS should develop innovative financing models, for example where refurbishments are financed through repayments based on energy savings” 2. How does the package link in with Electra?

  12. Recommendation 1. “mobilise economically attractive investment potential in buildings, industry and other sectors.” Recommendation 4. “ensure ambitious and visible investment plans in public infrastructures and buildings” Recovery package 2.3.2. c) “Commission proposes reduces VAT-rates for green products and services, aimed at improving in particular energy efficiency in buildings” 2. How does the package link in with Electra?

  13. Recommendation 3. “regulation must continue to support energy efficiency […] progressively introducing appropriate minimum energy efficiency requirements” Recovery package 2.3.2. c) “MS should rapidly implement environmental performance requirements for external power supplies, stand-by and off mode electric power consumption, set top boxes and fluorescent lamps” 2. How does the package link in with Electra?

  14. Recommendation 3. “regulation must continue to support energy efficiency […] progressively introducing appropriate minimum energy efficiency requirements” Recovery package 2.3.2. c) “The Commission will urgently draw up measures for other products which offer very high potential for energy savings such as televisions, domestic lighting, refrigerators and freezers, washing machines, boilers and air-conditioners” 2. How does the package link in with Electra?

  15. Recommendation 5. “foster R&D programmes, define technology roadmaps and innovation policy. Foster early development and application of new technologies in Europe first.” Recovery package 2.3.2. d) “Member states and private sector should increase planned investments in education and R&D to stimulate growth and productivity” 2. How does the package link in with Electra?

  16. Recommendation 5. “foster R&D programmes, define technology roadmaps and innovation policy. Foster early development and application of new technologies in Europe first.” Recovery package 2.3.2. d) “In the automobile sector, a ‘European green cars initiative’ (COM, EIB, MS), involving research on a broad range of technologies and smart energy infrastructures essential to achieve a breakthrough in the use of renewable and non-polluting energy sources, safety and traffic fluidity.” 2. How does the package link in with Electra?

  17. Recommendation 5. “foster R&D programmes, define technology roadmaps and innovation policy. Foster early development and application of new technologies in Europe first.” Recovery package 2.3.2. d) Like in the automobile sector, also a ‘European energy efficient building initiative’ and a ‘factories for the future initiative’ should foster up R&D in buildings and industry. 2. How does the package link in with Electra?

  18. Next steps • While still waiting for the Electra Communication coming up, the European Economic Recovery Plan for a large part takes up the proposals to be outlined in the Electra Communication. And what about the impact? • Positive: Electra messages percolating into Commission’s policies. • Positive: proposals are largely to be applauded • Negative: speed of decision making leaves little time to lobby with the Member States! • Negative: might be a reason for further delay of Electra Communication

  19. Next steps • The Commission recovery package is discussed at the EU summit on 11-12 December • Finance ministers have not reacted too positively on the Commission proposals • French Presidency wants to hammer out a deal • That means that Member State commitment is not guaranteed! And of course therefore more work is needed!

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