EU budget 2021-2027: Europe’s future is digital
On the 2nd of May, the European Commission disclosed its budget proposal for the next financial period of 2021-2027. The proposed budget amounts to €1.135 billion, equal to 1.11% of the EU27’s gross national income. Compared to the present budget, innovation, research and digital sector get higher investments by 1.6 times. The budget prioritizes the digital transformation of businesses, advanced digital skills, development of the digital infrastructure and high capacity networks. It also suggests an increase in the dedicated SME funding (under COSME and InvestEU instruments) to €3 billion, compared to €2.3 billion in the current framework.
‘We welcome the Commission’s proposal for the next financial period. The increased funding on cross-sectoral digital challenges indicates that investment in the digital sector is the key political priority for the Commission. Growing investments coupled with the increasing support for the SMEs will allow Europe to become more competitive in the global market, and ensure the economic growth for the years to come. The budget proposal lays the groundwork for Europe’s digital future’ – commented President of the DIGITAL SME, Oliver Grün.
In anticipation to detailed sector-specific budget proposals, DIGITAL SME calls on the European Commission to recognise the key role of digital SMEs as enablers of digitalization and modernization of Europe’s industrial ecosystem.
‘SMEs are continuously named as the most vulnerable group lagging behind digitalisation. While this is often the case, the Commission proposal should leverage the SMEs that are digital champions and innovation frontrunners. Digital SMEs unleash the potential of digital technologies by constantly innovating and enabling other businesses to grow. Only by investing in our digital SMEs, will Europe regain its digital sovereignty’ – added Oliver Grün.
