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Address by UNICE President, following presentation by Commissioner Potocnik of new key figures on Science, Technology and Innovation in Europe (link)

Published on
July 21, 2005
Last updated
May 22, 2015

Brussels, 19 July 2005

  • Disappointing economic performances in the EU have reflected the declining trend in our growth potential which is currently below 2% (compared to 3.5% in the US). The EU is anymore an engine for growth and its performances sharply contrast with the US growth figures, most of the time above 3% over the last ten years. The OECD has recently confirmed that once again, recovery in the EU lacks momentum this year with expected slowdown to 1.2% in the euro area (and an estimated 1.7% for the EU).

  • The fact that economic growth in the EU has remained at a low level for several years, shows no sign of a dynamic upturn, reflects a lack of confidence among economic operators regarding investment in Europe. This lack of confidence is now also visible in companies' R&D spending in Europe: the Commission's report shows that corporate R&D expenditure in Europe is growing at a very slow pace, broadly equivalent to GDP growth, itself very sluggish. This trend runs counter to the Lisbon agenda which wanted public and private R&D spending to rise at a markedly higher rate than GDP, in order to accelerate the innovation process and the associated job creation.

  • The problems which are at the root of this virtual stagnation in R&D expenditure in Europe are largely structural; they have to be remedied through far-reaching economic regulatory reforms that restore investment-friendly conditions. It is not a willingness to invest that is missing. The fact that the R&D investments of European companies in USA are growing healthily proves this (the figure in 2001 was € 5 billion).

    [...]


    Union of Industrial and Employers' Confederations of Europe
    Union des Confédérations de l'Industrie et des Employeurs d'Europe Previous Item Back to Titles

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