Vice President of the European Commission responsible for Competition Policy, Joaquín Almunia
Almunia stressed the need to reform State aid to achieve sustainable growth
The Vice President of the European Commission responsible for Competition Policy, Joaquín Almunia, spoke today at the conference on ‘The modernisation of State aid rules’ organized by King's College held in London, UK, addressing the need to change the institutional role of State aid policy in order to respond to today’s conditions.
As Vice President Almunia stated: “We want to help national governments make more efficient use of scarce resources. Public spending and tax structure can be better targeted to boost growth. The new framework can help Member States reconcile the twin needs to consolidate their budgets and achieve the objectives laid out in the EU strategy for growth and jobs.To help Europe’s governments improve the quality of their public finances, I want State aid control and – more generally – competition concerns to be a regular feature of the EU fiscal surveillance and economic policy recommendations.”
In addition, Vice President Almunia stressed that State aid control has to evolve in order to adapt to the current economic situation. He also underlined that the business environment has been transformed by technology and the integration of world markets and as a result, these developments have to be taken into consideration as well.
Moreover, he highlighted that the common EU policy is the creation of growth and jobs and that Europe should rely on a modernized State aid that promotes innovation, green technologies, and the development of human capital. He also pointed that in order for Europe to achieve sustainable recovery, all countries need to leverage the potential of the internal market to the full.
Finally, Vice President Almunia underlined that transparency is the basis of responsible policy-making and said that EU is making efforts to reform the instruments of the State aid as to make them more consistent, simpler, easier and consequently, more effective. new europe on line
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