Innovation reforms to sustain recovery: Commission

The European Commission has highlighted the importance of reforms and investment in R&I to aid the economic recovery. It has announced proposals to assist EU member states maximise the impact of their budgets.

The Commission has pledged support to member states in pursuing R&I reforms best suited to their needs, including providing policy support, world class data, and examples of best practice.

Olli Rehn, European Commission Vice-President with responsibility for Economic and Monetary Affairs and the Euro, said: “The European economic recovery is gathering speed while the pace of fiscal consolidation is slowing down, in line with the EU’s reinforced fiscal framework. Nonetheless, budgetary constraints will remain, which is why it is more important than ever that EU member states target their resources smartly. The EU budget is helping drive growth-enhancing investment in research and innovation and today we are putting forward ideas to help maximise the impact of every euro spent.”

The Communication published by the Commission highlights three key areas of reform: improving the quality of strategy development and the policy making process; improving the quality of R&I programmes; and improving the quality of public institutions performing research and innovation.

Adding her thoughts, Máire Geoghegan-Quinn, European Commissioner for Research, Innovation and Science, said: “Fostering innovation is widely accepted as the key to competitiveness and better quality of life, especially in Europe where we cannot compete on costs. This is a wake-up call to governments and businesses across the EU. Either we get it right now or we pay the price for years to come.”