European Semester: Liberals and Democrats welcome call for structural reform to enhance European competitiveness

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MEPs have today adopted their report on the European Semester for economic policy coordination, annual growth survey for 2018, a foundation of the six-month cycle in economic policy coordination in the EU. The report argues that further progress has to be made in the implementation of structural reforms to deliver jobs and growth. It makes the case for increases in productivity and competitiveness due to a lack of private investments and of structural reforms.

The report also takes note of the proposed neutral fiscal stance for the euro area and stresses that the fiscal stance is not an instrument for off-setting surpluses and deficits between member states. The draft report also re-iterates the fight against tax evasion, fraud and avoidance.

Commenting after the vote, ALDE shadow Caroline Nagtegaal said:

“Liberals and Democrats welcomes the return of growth and the reduction of public deficits in the EU. Now is the time to fix the roof of the European economy while the sun is shining. We have to make our economies ready for the future by implementing structural reforms to improve the business environment, by setting public finances on a sustainable path to cope with ageing societies and by investing in research, technology and innovation.”

“With the rise of China and India, set against a background of fast changing technological developments, we face a race against time to improve European competitiveness if the European Union is to remain a global economic power. ”

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