Last week, the European Commission unveiled its Competitiveness Compass, the first major initiative of this mandate and the “North star” providing a strategic and clear framework to steer the Commission’s work in the next five years.
Building on the Draghi and Letta reports, the Commission identified three transformational imperatives to boost Europe’s economy:
- Closing the innovation gap
- A joint roadmap for decarbonisation and competitiveness
- Reducing excessive dependencies and increasing security
These three pillars will be complemented by five horizontal enablers:
- Simplification
- Lowering barriers to the Single Market
- Financing competitiveness
- Promoting skills and quality jobs
- Better coordination of policies at EU and national level
You may ask: What about transport?
The Commission announced the publication in autumn of a Sustainable Transport Investment Plan which will include additional measures to de-risk investments geared towards the sector’s decarbonisation.
Moreover, it will present a new strategy for Europe’s ports and maritime industry and increase efforts to strengthen cross-border rail connectivity, with a particular focus on the creation of a high-speed rail network.
To read more about the Compass, click here.
