EU: Commission Outlines 'Competitiveness Compass'
Jan-29 12:50
European Commission President Ursula von der Leyen and Executive Vice-President for Prosperity and Industrial Strategy Stéphane Séjourné are outlining the so-called 'Competition Compass', the Commission's roadmap for boosting EU competitiveness over the coming five years in the face of continued competition with China and a Trump administration in the US racing to cut red tape. Livestream here.
- The Compass outlines three main aims:
- 'Closing the innovation gap' - boosting action in high-growth industries like AI, advanced materials, quantum, biotech, robotics and space technologies. Also simplify corporate law, insolvency, labour and tax law, and reduce the costs of failure to encourage investment.
- 'A joint roadmap for decarbonisation and competitiveness' - commitment to the Clean Industrial Deal that looks for 'a competitiveness-driven approach to decarbonisation,' put forward an 'Affordable Energy Action Plan will help bring down energy prices and costs'. Promises 'tailor-made action plans for energy intensive sectors, such as steel, metals, and chemicals,' to protect them during transition.
- 'Reducing excessive dependencies and increasing security.' - Clean Trade and Investment Partnerships to help secure supply of raw materials, clean energy, sustainable transport fuels, and clean tech from across the world. A review of the Public Procurement rules will allow for the introduction of a European preference in public procurement for critical sectors and technologies.
- A press release on the Compass is here. A factsheet here. The full 26-page document can be found here.
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Dec-30 11:47
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EUROPEAN INFLATION: Portugal HICP Accelerates, Core CPI Also Higher
Dec-30 11:41
Portugal HICP rose to 3.1% Y/Y in December, its highest since June 2024 and notably above November's 2.7%. The national CPI measure also saw some acceleration, both on headline (3.01% vs 2.47% Nov) as well as on core (2.80% vs 2.61% Nov). Behind the higher CPI headline, Statistics Portugal identifies energy and unprocessed food as the predominant drivers.
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