UK Financial Turmoil: Pound Plummets and Bond Yields Soar Following Historic Tax Hike
The British pound has taken a significant dip, and interest rates on government bonds have increased following substantial tax hikes in the major budget. The yields on ten-year UK bonds, which reflect the government's borrowing costs, have exceeded 4.5% for the first time in twelve months, reaching levels that are nearing what the Office for Budget Responsibility considers risky.
By Andy Hayes, journalism correspondent
Thursday, October 31, 2024, 6:
The value of the British pound has dropped significantly following the chancellor's declaration of the most substantial tax increases in decades.
In the past three days, the British pound has experienced a 1.2% decline when measured against a basket of currencies, marking its most significant drop in a year and a half.
Today, between approximately 1:30 PM and 5:30 PM, the value decreased from roughly 129.9 cents to 128.6 cents against the dollar. Similarly, during this timeframe, it fell from 119.3 cents to 118.4 cents when compared to the euro.
Furthermore, the interest rates on 10-year UK government bonds, which reflect the cost of long-term borrowing for the government, have exceeded 4.5% for the first time in twelve months.
Ed Conway, the economics and data editor at Sky News, stated that these yields are "almost at the midpoint to the danger zone," a level determined by the Office for Budget Responsibility (OBR).
He noted that while bond yields were up across Europe, the UK's rates were accelerating more quickly than most.
While emphasizing that the budget has just been introduced, Conway noted that Rachel Reeves's flexibility is already reducing due to recent market trends.
Conway noted that the markets are responding with significant volatility.
"He emphasized the rarity of such a situation following a budget announcement, noting that it will significantly impact the government's future financial capabilities."
For an optimal video experience, we recommend using the Chrome browser.
Following Liz Truss's ill-fated "mini-budget" in September 2022, there was a sharp increase in the yields on 10-year UK government bonds. This escalation pushed up borrowing costs for everyday borrowers and saw the British pound plummet to its lowest level against the dollar in 37 years.
Conway stated, "It definitely isn't that way right now."
Still, these market fluctuations are "significant enough to worry officials at the Treasury," he continued, "as they indicate that numerous traders are paying attention to the government's borrowing levels and thinking, 'Wait, perhaps we should start charging you more.'"
For optimal video playback, it is recommended to use the Chrome browser.
Conway noted that while it doesn't seem like a critical juncture, he mentioned that the situation might be shifting for the government.
Jack Meaning, the lead economist for Barclays in the UK, noted that the market's response was significantly distinct compared to that of 2022.
According to him, since Ms. Reeves presented her budget, bond yields have increased by approximately 0.3%, compared to a rise of about 1.5% in 2022.
For optimal video playback, it is recommended to use the Chrome browser.
Mr. Meaning noted that the dialogue Barclays is engaging in with its clients has evolved compared to last year.
At that moment, there was speculation about whether a major turning point in the crisis had occurred.
This occasion, he highlighted that attention is being paid to remarks from the OBR regarding a possible increase in inflation, and how this could influence the Bank of England's upcoming decisions on interest rates.
Discover more: Chancellor justifies £40 billion in tax increases. Is the inheritance tax for farmers the latest version of the pasty tax?
The spokesperson for the prime minister declined to comment on the subject of bond prices.
"They declined to remark on fluctuations in the market," was their response.
"The finance minister emphasized that the primary goal of the current budget is to reestablish fiscal stability. She introduced two stringent new fiscal policies aimed at ensuring long-term sustainability of the government's finances."
Associated Subjects
Footer of Sky News
Information about Sky News
Services Provided by Sky News
Channels of Sky
Additional Sky Websites
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.
Politics
Christophe Hansen: Visionen für die Zukunft der EU-Landwirtschaft – Anhörung des designierten Kommissionsmitglieds im Fokus
Hearing of Nominee Christophe Hansen for Commission Membership
Share this page:
On Monday, the Committee on Agriculture and Rural Development conducted an interview with Christophe Hansen, the Luxembourgish nominee for the portfolio of Agriculture and Food.
Der Fraktionsvorsitzende und die Koordinatoren treffen sich um 22:30 Uhr, um die Fähigkeiten und Qualifikationen des vorgeschlagenen Kommissars zu beurteilen.
Empfehlungen zur Optimierung der Arbeits- und Lebensverhältnisse von Bauern
In seiner Antrittsrede erklärte Christophe Hansen, der neu ernannte Kommissar für Landwirtschaft und Ernährung, dass neun Millionen landwirtschaftliche Betriebe für die Versorgung der Europäer mit sicheren und hochwertigen Lebensmitteln verantwortlich sind. Diese Betriebe bilden zudem die vorderste Front gegen den Verlust der Artenvielfalt und den Klimawandel in Europa. Gleichzeitig stehen sie jedoch unter wachsendem wirtschaftlichen Druck durch den globalen Wettbewerb und sind die ersten, die von extremen Wetterbedingungen betroffen sind.
Mr. Hansen committed to continuing the "Strategic Dialogue" launched by the President of the Commission. He plans to visit farmers across Europe and, in close cooperation with the Parliament, develop a "vision for future agricultural and food policy" within his first 100 days in office. This vision will serve as the foundation for the upcoming CAP reform.
Hansen, der seine Kindheit auf einem landwirtschaftlichen Betrieb verbrachte, betonte, dass er sich auf die Erschwinglichkeit von Agrarland und angemessene Einkommen für junge Bauern konzentrieren wolle. Dies soll ihnen helfen, den Übergang zu einem umweltfreundlichen und wirtschaftlich nachhaltigen Agrarsektor zu gestalten.
Upcoming Overhaul of the Common Agricultural Policy
The legislators questioned the commissioner-designate about the size and composition of the future budget for the Common Agricultural Policy (CAP) and inquired about his plans to ensure that farmers receive a fair price for their products. Mr. Hansen committed to exploring alternative sources of income and promoting capital investments, while also aiming to enhance the bargaining power of the farmers.
When asked about cutting down the bureaucratic burden for farmers and achieving the "Green Deal" objectives within the new CAP, Mr. Hansen emphasized the importance of streamlining current regulations while also supporting the EU's environmental goals.
Additional topics highlighted by the parliament members included the need to establish a level playing field for EU farmers when competing with producers from outside the EU, access to capital and innovations, and ensuring fair wages for workers within the agricultural sector.
Schauen Sie sich die vollständige Aufzeichnung der Anhörung im Videoformat an.
Upcoming Actions
Based on the committee's recommendations, the Conference of Presidents, which includes EP President Metsola and the leaders of the parliamentary groups, will make the final assessment and announce the conclusion of the hearings on November 21. After the Conference of Presidents officially concludes all hearings, the assessment letters will be made public.
The European Parliament is set to hold a roll-call vote to elect the full College of Commissioners during its plenary session scheduled from November 25 to 28 in Strasbourg.
Contact:
Hana RAISSI
Michaela FINDEIS
More details
Reference
Share this page:
News
The EP in your country
Resources
The President of the European Parliament
European Parliament
The EP on social media
Information links
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.
Politics
EU Commissioner-Designate Apostolos Tzitzikostas Faces Scrutiny on Sustainable Transport and Tourism Agenda
Commissioner-designate Apostolos Tzitzikostas Faces Committee
On Monday night, the Transport and Tourism Committee held a hearing with Apostolos Tzitzikostas, the Greek nominee for the role focusing on sustainable transport and tourism.
The chair of the committee, along with the coordinators from various political groups, will convene immediately to evaluate the abilities and credentials of the proposed Commissioner.
Transport that is both competitive and environmentally friendly
During his opening remarks, Mr. Tzitzikostas highlighted his priorities if he is confirmed as the Commissioner for Sustainable Transport and Tourism. He plans to boost the EU transport sector's competitiveness, adhere to the schedules for its green and digital transformations, finish the Trans-European Transport (TEN-T) network by the set deadlines, improve transport safety, and ensure the enforcement of existing EU regulations. To advance decarbonization efforts in transport, such as creating sustainable fuels and expanding charging infrastructure, he promised to introduce a sustainable transport investment plan by 2025. Furthermore, regarding competitiveness, he vowed to formulate an EU industrial action plan specifically for the automotive industry.
Regarding changes in transportation methods, the Commissioner-designate announced his intention to unveil a proposal aimed at linking EU capitals and major cities through high-speed rail networks, incorporating overnight train services. Furthermore, Mr. Tzitzikostas pledged to introduce a unified digital system for booking and purchasing rail tickets within the initial year of his tenure.
Addressing the topic of tourism, he emphasized that the European Union should retain its status as the leading global destination. He pledged to implement a strategy focused on sustainable tourism, aiming to bolster the industry while ensuring the welfare of local communities is maintained.
Solutions from Europe, employment environments, transition in transportation methods
A number of Members of the European Parliament urged the incoming Commissioner to back the transport and tourism industries within the EU and to seek EU-wide solutions. Among the requests made to Mr. Tzitzikostas were reducing bureaucratic hurdles, decreasing the need for reporting, and halting new proposals until an impact assessment is conducted.
Members of the European Parliament inquired about the employment conditions within the transport industry, focusing particularly on the aviation and maritime sectors. They obtained a promise from Mr. Tzitzikostas to conduct a thorough assessment of this issue within his initial 100 days in office.
During the discussion, members inquired about Mr. Tzitzikostas's insights on several key issues. These included the evaluation of aviation services and air passenger rights regulations, strategies for transitioning from road to rail transport, specific suggestions to promote high-speed and overnight train services, initiatives for creating environmentally friendly corporate vehicle fleets, and further actions needed to enhance safety in the transport sector.
Mr. Tzitzikostas faced questions about particular strategies to revive the European Union’s car industry, the financial aid required to finish the TEN-T network, and strategies to guarantee maritime safety while addressing the interference caused by Russia's fleet of covert vessels.
The complete video of the hearing is available for viewing here.
Media briefing
Following the conclusion of the hearing, Ms. Elissavet Vozemberg, who leads the Transport and Tourism Committee, addressed the media outside the meeting room. You can view her remarks here.
Future actions
Following the suggestions made by the committee, the Conference of Presidents, which includes EP President Metsola and the leaders of political groups, plans to carry out the concluding assessment and officially end the hearings on November 21. After the hearings are officially concluded by the Conference of Presidents, the letters containing the evaluations will be made public.
Members of the European Parliament are set to vote on the entire group of Commissioners, with the decision requiring a majority of the votes. This roll-call vote is slated for the plenary session happening in Strasbourg from November 25th to 28th.
Details for Communication:
Gediminas Vilkas
Kyriakos Klosidis
Additional Details
Details about the Product
Distribute this Page:
Updates
Parliament Presence in Your Nation
Resources
Leader of the European Parliament
European Legislative Body
Parliament's Social Media Channels
Informational Connections
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.
Politics
EU Commissioner-Designate Apostolos Tzitzikostas Faces Critical Hearing on Sustainable Transport and Tourism Vision
Listening Session for Commissioner Nominee Apostolos Tzitzikostas
Distribute this content:
On Monday night, the Transport and Tourism Committee held a session to interview Apostolos Tzitzikostas, the Greek nominee for the position overseeing sustainable transport and tourism.
The head of the committee and the leaders of the political groups will convene promptly to evaluate how well the Commissioner-designate has performed and to review their qualifications.
Eco-friendly and competitive transportation
During his opening remarks, Mr. Tzitzikostas emphasized that, if he is confirmed as the Commissioner for sustainable transport and tourism, his priorities will include boosting the competitiveness of the EU’s transportation sector. He plans to adhere to the established schedule for its transition towards green and digital solutions, and aims to complete the Trans-European Transport (TEN-T) network by the designated deadlines. Additionally, he intends to improve transport safety and ensure that current EU regulations are enforced. To advance transport decarbonization efforts, such as increasing the production of sustainable fuels and expanding charging infrastructure, he promised to introduce a sustainable transport investment strategy in 2025. Regarding competitiveness, he vowed to create an EU industrial action plan for the automotive industry.
Regarding the transition to other modes of transport, the Commissioner-designate announced his intention to introduce a proposal aimed at linking EU capitals and major cities through high-speed rail networks, which would also incorporate overnight train services. Furthermore, Mr. Tzitzikostas pledged to unveil a unified digital system for booking and purchasing rail tickets within the first year of his term.
Regarding tourism, he emphasized that the European Union should continue to be the top global destination. He pledged to implement a sustainable tourism plan that would bolster the industry while ensuring the welfare of local populations is safeguarded.
Approaches in Europe, employment environments, transition in transportation methods
A number of Members of the European Parliament urged the nominated Commissioner to back the EU's transport and tourism industries and seek EU-wide solutions. Among their requests, MEPs called for reducing bureaucratic hurdles, decreasing the need for reports, and halting new initiatives until an impact assessment is conducted. These appeals were directed towards Mr. Tzitzikostas.
Members of the European Parliament raised concerns about employment conditions in the transportation industry, focusing particularly on the aviation and maritime sectors. They obtained a promise from Mr. Tzitzikostas to conduct a thorough review of these conditions within his initial 100 days in office.
Members raised inquiries with Mr. Tzitzikostas about several topics, including the evaluation of aviation services and regulations concerning air passenger rights. They also discussed strategies for transitioning from road transport to rail, specific plans to promote high-speed and overnight train travel, the advancement of environmentally friendly corporate vehicle fleets, and further initiatives to enhance transport safety.
Mr. Tzitzikostas faced questions about particular actions to aid the revival of the EU's car industry, the funding required to finish the TEN-T network, and strategies to secure maritime safety while addressing the interference caused by Russia's covert fleet.
You can view the complete hearing's video recording at this link.
Media briefing
Following the conclusion of the hearing, Ms. Elissavet Vozemberg, who serves as the Chair of the Transport and Tourism Committee, addressed the press outside the meeting room. You can view it here.
Upcoming Actions
Following the suggestions from the committee, the Conference of Presidents, which includes EP President Metsola and the leaders of the political groups, plans to carry out the concluding assessment and officially end the hearings on November 21. After this declaration, the evaluation letters will be made available to the public.
Members of the European Parliament are set to vote on the entire group of Commissioners, with the decision determined by a majority in a roll-call vote. This event is planned to occur at the plenary session in Strasbourg from November 25 to 28.
Contacts:
Gediminas VILKAS
Kyriakos KLOSIDIS
Additional Details
Details about the Product
Distribute this page:
Updates
Parliament in your nation
Resources
Head of the European Parliament
European Parliament
Parliament's presence on social platforms
Resource links
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.
Politics
Commissioner-Designate Tzitzikostas Faces Scrutiny: EU Transport and Tourism’s Sustainable Future in the Spotlight
Commissioner-Designate Apostolos Tzitzikostas' Hearing
Spread the word:
On Monday night, members of the Transport and Tourism Committee interviewed Apostolos Tzitzikostas, the candidate from Greece, regarding his prospective role overseeing sustainable transport and tourism.
The head of the committee and the leaders of the political groups will convene promptly to evaluate the abilities and credentials of the proposed Commissioner.
Environmentally friendly transportation options that prioritize competitiveness
In his opening address, Mr. Tzitzikostas emphasized that, if approved as the Commissioner for sustainable transport and tourism, his priorities will include boosting the EU transport sector's competitiveness, adhering to the planned schedule for green and digital transitions, finishing the Trans-European Transport (TEN-T) network on time, improving transport safety, and ensuring the proper implementation of existing EU regulations. To advance transport decarbonization initiatives, such as creating sustainable fuels and expanding charging infrastructure, he promised to unveil a sustainable transport investment strategy in 2025. Additionally, to enhance competitiveness, he vowed to craft an EU industrial action plan specifically for the automotive industry.
Regarding changes in transportation modes, the Commissioner-designate announced his intention to unveil a strategy aimed at linking EU capitals and major cities via high-speed rail networks, which would also encompass night train services. Furthermore, Mr. Tzitzikostas pledged to introduce a unified digital platform for booking and purchasing rail tickets within the first year of his term.
Discussing tourism, he emphasized the importance of the EU retaining its position as the top global destination. He pledged to implement a plan for sustainable tourism that would bolster the industry while ensuring the health and prosperity of local communities.
Approaches in Europe, job environments, and changes in transportation methods
A number of members of the European Parliament urged the Commissioner-designate to bolster the EU's transport and tourism industries, while also seeking EU-wide solutions. Among the requests made to Mr. Tzitzikostas were reducing bureaucratic hurdles, decreasing the need for extensive reporting, and halting the introduction of new proposals until impact assessments are conducted.
Members of the European Parliament inquired about the labor conditions in the transport industry, with a particular focus on aviation and maritime sectors. They received a pledge from Mr. Tzitzikostas to conduct a thorough assessment of the current state of affairs in these sectors within his first 100 days in office.
Members inquired of Mr. Tzitzikostas regarding the examination of regulations governing aviation services and the rights of air passengers. They also discussed the transition of transportation from road to rail, specific suggestions to promote the use of high-speed and overnight trains, the advancement of environmentally friendly company vehicle fleets, and further actions to guarantee the safety of transport.
Mr. Tzitzikostas was also asked about particular strategies to save the EU's car manufacturing sector, the funding required to finish the TEN-T network, and the initiatives to guarantee maritime safety while addressing the disruptions caused by Russia's fleet of covert ships.
The complete video of the hearing is available for viewing here.
Media briefing
Following the conclusion of the hearing, Ms. Elissavet Vozemberg, who leads the Transport and Tourism Committee, addressed the media outside the meeting room: you can view it here.
Upcoming Actions
Following the suggestions made by the committee, the Conference of Presidents, which includes EP President Metsola and the leaders of the political groups, plans to carry out the final assessment and officially conclude the hearings on November 21. After the Conference of Presidents announces the conclusion of all hearings, the evaluation letters will be made public.
Members of the European Parliament are set to vote on the entire group of Commissioners, requiring a majority of votes in a roll-call format. This election is planned to occur at the plenary session in Strasbourg from November 25 to 28.
Contact Persons:
Gediminas VILKAS
Kyriakos KLOSIDIS
Additional Details
Details about the Product
Distribute this Page:
Updates
Your National Parliament
Resources
Leader of the European Parliament
European Parliament
Parliament’s Presence on Social Media
Informational Resources
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.
Politics
Ekaterina Zaharieva’s Vision for European Innovation: Boosting R&I Spending and Empowering Startups
Briefing on Nominee Ekaterina Zaharieva
Distribute this information:
Ekaterina Zaharieva, nominated by Bulgaria for the role overseeing Startups, Research, and Innovation, faced inquiries from the Industry, Research and Energy Committee on Tuesday.
The head of the committee and the coordinators from the political groups will promptly convene following the hearing to evaluate how well the Commissioner-designate performed and whether they are qualified.
In her opening statement, Commissioner-designate Zaharieva emphasized her commitment to making Research and Innovation (R&I) central to the EU's strategy for boosting competitiveness. She noted that now is an opportune moment to strategically increase investments in R&I to help Europe successfully navigate its digital and low-carbon transitions. Zaharieva pointed out that Europe currently lags behind the US, China, and Japan in R&I spending. She promised to introduce a European Innovation Act to encourage Member States to reach the 3% spending goal for R&I, prevent the outflow of talent, protect research freedom, invest in R&I infrastructure, and strengthen the European Research Council.
Assistance for New Ventures and Small Businesses
Ms. Zaharieva called for a detailed plan aimed at assisting start-ups and small businesses in their growth by easing their access to funding and reducing bureaucratic hurdles.
The nominee for Commissioner advocated for a plan to enhance European life sciences, increase the application of artificial intelligence in scientific research, and introduce legislation focused on advanced materials.
Ms. Zaharieva suggested that the Commission should introduce a strategy to enhance the representation of women in Research and Innovation (R&I). She also urged for a substantial budget allocation for R&I in the upcoming multi-year financial plan. Discussing global relations, she emphasized the importance of the EU upholding the principles of reciprocity, fair competition, and strategic independence. She committed to collaborating extensively with Ukrainian researchers and innovators.
Streamlining bureaucracy for small and medium-sized enterprises and increasing research funding
In the conversation, multiple Members of the European Parliament urged the Commission to encourage member countries to achieve the 3% of their GDP goal for research and innovation. They also emphasized the need for the EU research program to remain autonomous and for increased EU-level funding for research. Responding to these points, the Commissioner-Designate pledged to work towards maintaining an independent and strengthened Framework Programme and supported raising the research and innovation target to 4% by the year 2030.
A number of Members of the European Parliament advocated for reducing bureaucratic obstacles for small and medium-sized enterprises (SMEs) seeking EU research funding. Ms. Zaharieva expressed her support for significantly simplifying the process by introducing a two-stage application system to cut down on bureaucracy. Meanwhile, some MEPs suggested that the EU's research and innovation policies should place greater emphasis on nuclear research, particularly in light of the shift towards low-carbon energy sources.
The complete video of the hearing is available for viewing at this link.
Following the hearing, Ms. Zaharieva delivered a statement, which is available for viewing here.
Upcoming Actions
Following the suggestions provided by the committee, the Conference of Presidents, which includes EP President Metsola and the heads of political groups, plans to complete the final assessment and announce the conclusion of the hearings on November 21. After the Conference of Presidents has officially closed all the hearings, the evaluation letters will be made publicly available.
Members of the European Parliament are set to vote on the entire group of Commissioners, with the decision to be made by a majority of votes through a roll-call process. This event is planned for the plenary session in Strasbourg, taking place from November 25 to 28.
Connections:
Baptiste CHATAIN
Yasmina YAKIMOVA
Eszter ZALAN
Additional details
Product details
Distribute this page:
Updates
Parliament in your nation
Resources
The European Parliament's President
European Parliament
Parliamentary presence on social networks
Informational resources
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.
Politics
Michael McGrath’s Vision for EU Democracy and Justice: Key Highlights from the Parliamentary Hearing
Michael McGrath, nominated as the Irish Commissioner for Democracy, Justice, and the Rule of Law, faced inquiries from three separate parliamentary committees on Tuesday morning.
The leaders and coordinators from the Civil Liberties, Justice and Home Affairs (LIBE), Internal Market and Consumer Protection (IMCO), and Legal Affairs (JURI) committees are set to convene promptly to evaluate the competence and credentials of the proposed Commissioner.
Governance by the people, basic liberties, and adherence to legal principles
During his introductory remarks, Michael McGrath announced his intention to launch a "Democracy Shield" aimed at countering misinformation and meddling from external sources. He stressed the necessity for adherence to the EU Charter of Fundamental Rights as a requirement for enjoying the advantages of being part of the Union. Additionally, he detailed proposals to strengthen the connection between adhering to the annual Rule of Law report's recommendations and eligibility for EU financial resources.
Mr. McGrath pledged to maintain the EU's legal framework and acknowledge the Court of Justice as the final authority on EU laws. In response to MEPs' worries about the supremacy of EU legislation, he vowed to support enhancing the Parliament's influence in Article 7 processes.
Safeguarding consumers and the advancement
Should he be confirmed, the Commissioner-designate intends to introduce the Digital Fairness Act. This legislation aims to shield consumers from exploitation, ensure influencers provide truthful information, and safeguard children. Additionally, he seeks to tackle the issue of challenging digital subscription cancellations.
During a session with Members of the European Parliament, Mr. McGrath was asked about his strategies for safeguarding young people on the internet. He pledged to combat detrimental online practices that affect EU consumers, including manipulative design techniques and variable pricing, while also ensuring they are shielded from subpar products available online.
During the discussion, a significant focus was placed on the future of GDPR. Mr. McGrath highlighted the forthcoming binding decision by the Data Protection Board regarding the application of personal data in artificial intelligence as an important forthcoming development.
Fair
Mr. McGrath informed members of the European Parliament that he plans to develop the EU's inaugural strategy to combat corruption. Addressing inquiries regarding the forthcoming Victims’ Rights Directive, Mr. McGrath sought the Parliament’s backing to preserve key aspects of the Commission's plan during negotiations. He further pledged to focus on protecting women from violence, which includes enforcing newly established regulations. Additionally, the digital transformation of judicial systems was highlighted as a significant focus in the discussions.
Freedom of the
In response to questions from Members of the European Parliament, the Commissioner-designate vowed to prioritize media freedom and the safeguarding of journalists. This effort will notably include the strong enforcement of the Media Freedom Act and the anti-SLAPP Directive. He further pledged to defend freedom of expression, while emphasizing that this right has limitations and that "hateful speech" is unacceptable.
Assistance for Companies in the
In response to inquiries from Members of the European Parliament regarding the reduction of bureaucratic processes for businesses and the fresh reporting obligations under the Due Diligence Directive, the Commissioner-designate recognized the importance of swiftly issuing guidelines from the Commission. These guidelines aim to simplify compliance for businesses with the new regulations. He plans to enhance business confidence in the EU's legal framework, particularly by incorporating digital tools in the judiciary to reduce expenses and lessen administrative duties. Additionally, he seeks to maintain a fair equilibrium between corporate liability regulations and safeguarding citizens' rights, fostering an environment where innovative companies can thrive.
The complete video of the hearing is available for viewing at this link.
Media briefing
Following the hearing's conclusion, Javier Zarzalejos, who heads the Committee on Civil Liberties, Justice and Home Affairs (EPP, Spain), Anna Cavazzini, the leader of the Committee on Internal Market and Consumer Protection (Greens/EFA, Germany), and Ilhan Kyuchyuk, the Chair of the Committee on Legal Affairs (Renew, Bulgaria), addressed the press outside the meeting venue. You can watch their statements here.
Upcoming actions
Following the committee's advice, the Conference of Presidents, which includes EP President Metsola and the leaders of political groups, plans to carry out the concluding assessment and officially announce the end of the hearings on November 21. After the Conference of Presidents finalizes the hearings, the assessment letters will be made public.
Members of the European Parliament are set to vote on the entire group of Commissioners, requiring a majority of roll-call votes. This vote is planned for the plenary session in Strasbourg from November 25 to 28.
Contact Persons:
Kyriakos KLOSIDIS
Martina VASS
Maris KURME
Additional Details:
– Information about the product
– Option to distribute this page
Updates:
– National Parliament News
– Resources and Utilities
– Leadership of the European Parliament
– European Parliament Institution
– Parliament's Presence on Social Networks
– Reference Links
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.
Politics
Commissioner-Designate Dubravka Šuica Outlines Vision for Mediterranean Partnership and Middle East Strategy Amidst EU Hearings
Interview with Nominee Dubravka Šuica for Commissioner
Share this page:
On Tuesday, the Foreign Affairs Committee held a session to interview Dubravka Šuica, the candidate from Croatia for the role overseeing the Mediterranean portfolio.
During her opening remarks, Ms. Šuica highlighted the crucial role of the Mediterranean area for Europe. She noted the increasing sway of Russia and China and emphasized the necessity of a trans-Mediterranean cooperation plan to enhance Europe's energy security. Additionally, she underscored the importance of environmental protection and managing migration effectively. The region is at a pivotal point for maintaining peace and security, and the EU needs to assert itself as the primary partner for addressing democratic pressures, climate change challenges, and economic concerns. She further stated that one of her main goals would be to establish a new Pact for the Mediterranean, fostering "partnerships of equals."
Regarding the Middle East, Ms. Šuica announced the need for a fresh strategy aimed at facilitating a two-state solution, backing the Palestinian authority's reform efforts, and fostering peace in Lebanon. She emphasized her dedication to enhancing collaboration with Gulf nations and developing strategic alliances with all six countries in the region.
Collaborative agreements, Palestinian relations, and immigration arrangements
Members of the European Parliament questioned the proposed Commissioner about her strategies to enhance the EU’s influence in the Middle East and the Southern Neighbourhood. They inquired about the new initiatives she intends to introduce and if she plans to pursue additional strategic partnership agreements like those already established with Egypt and Tunisia. In response, she stated her commitment to promptly initiate the development of a new Pact for the Mediterranean. This would involve agreements akin to those with Tunisia and Egypt and efforts to strengthen trade and business relationships with these nations. Ms. Suica remarked that while Europe currently contributes significantly financially, it does not hold significant sway in the region, stating, “we want to change that.” She highlighted that negotiations for an EU strategic partnership agreement with Jordan are already in progress and expressed optimism about reaching a similar agreement with Morocco.
The members inquired about the approach the Commissioner-designate plans to take regarding the controversial topic of the United Nations Relief and Works Agency for Palestine Refugees in the Near East, especially in light of Israel's recent prohibition of the agency. Ms. Šuica responded that, pending her confirmation, she intends to maintain financial support for both the Palestinian Authority and UNRWA. Additionally, she emphasized that the EU will persist in strengthening and backing the Palestinian Authority as the primary representative for future state-building efforts.
Members of the European Parliament brought up several concerns, such as Ms. Šuica's strategy for tackling illegal immigration, managing forced deportations, and addressing unlawful actions and violations of international law by Turkey in the Eastern Mediterranean. In response to an inquiry about her approach to ensuring the enforcement of human rights provisions in migration agreements with non-EU nations, Ms. Šuica affirmed her dedication to human rights and legal principles. She emphasized that "all our agreements incorporate human rights protections" and highlighted that "there are specific clauses and mechanisms in place for monitoring these aspects."
Upcoming Actions
The chair and coordinators of the political group are scheduled to convene promptly to evaluate the capabilities and credentials of the nominated Commissioner. Following the committee's suggestions, the Conference of Presidents, which includes EP President Metsola and the leaders of the political groups, will carry out the concluding assessment and announce the closure of the hearings on November 21. After the Conference of Presidents officially concludes all hearings, the evaluation letters will be made public.
Members of the European Parliament are set to vote on the entire group of Commissioners, with the decision requiring a majority from the votes collected in a roll-call process. This vote is planned for the plenary session happening in Strasbourg from November 25 to 28.
Connections:
Viktor ALMQVIST
Snježana KOBEŠĆAK SMODIŠ
More details
Details about the product
Distribute this page:
Updates
Legislature in your nation
Resources
Leader of the European Parliament
European Parliament
Parliament's presence on social platforms
Informational links
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.
Politics
Dan Jørgensen’s Vision: Lower Energy Prices and Affordable Housing at the Heart of EU Strategy
Meeting for Commissioner-nominee Dan Jørgensen
Distribute this information:
On Tuesday, members of the Industry, Research and Energy Committee, along with the Employment and Social Affairs Committee, conducted a hearing with Dan Jørgensen, the Danish nominee for the Energy and Housing position.
In his opening remarks, Dan Jørgensen, the Commissioner-designate, emphasized the central role of energy policy in addressing Europe's current issues, including economic competitiveness, employment, growth, security concerns due to the conflict in Ukraine, climate change, and social equity. He pointed out that European businesses face energy costs that are two to three times higher than those of their counterparts in the United States and China. Additionally, he noted that 10% of Europeans struggle to sufficiently heat their homes during the winter months.
Main focus: reduce costs of energy
Mr. Jørgensen emphasized that his main goal is to reduce costs for both industries and individuals. He expressed support for completely attaining energy independence from Russia and simultaneously moving towards a carbon-free energy system. Recognizing that numerous Europeans have apprehensions regarding the ongoing shift to low-carbon energy, he suggested concentrating efforts on addressing energy poverty. Additionally, he committed to accelerating the roll-out of renewable energy by streamlining the approval processes, expanding energy networks, creating more interconnectors, enhancing Carbon Capture and Storage (CCS), and advancing new storage technologies, including "Power to X" solutions.
Assist European Union industries in obtaining affordable and green energy.
In the course of the debate, Members of the European Parliament expressed concerns about the substantial pressure facing EU industries and emphasized the difficulties in meeting current targets and regulations. In response, Mr. Jørgensen argued that increased access to affordable energy doesn't automatically translate to more regulations; in fact, it could mean fewer. He advocated for significantly cutting bureaucratic hurdles for industries, particularly in the area of obtaining permits.
Housing that is budget-friendly, environmentally friendly, and
Regarding the issue of housing, the proposed Commissioner stated that the Commission plans to initiate efforts to establish a European Affordable Housing Plan. This plan aims to provide technical support to cities and member states while concentrating on the necessary investments and skills required to make it a reality.
Addressing the queries from Members of the European Parliament regarding affordable housing, Mr. Jørgensen outlined the plan which involves developing a strategy for building homes, establishing a new partnership with the European Investment Bank to channel investments into the housing sector, increasing financial support from the cohesion fund, and revising state aid regulations.
Atomic power
A number of Members of the European Parliament inquired about the Commissioner-designate's views on nuclear energy and the level of support the Commission plans to offer for this technology, including both Small Modular Reactors (SMRs) and larger reactors. Mr. Jørgensen stated that, although the EU will honor each nation's choice of energy sources, nuclear power will play a crucial role in the climate transition and will be included in the Commission's clean energy initiatives. Nevertheless, he cautioned against increasing Europe's reliance on the nuclear sector and related foreign supply chains, which could be connected to Russia.
The connection between housing and energy
Numerous Members of the European Parliament urged the Commissioner-designate to tackle not just the rising costs in both industries, but also to consider how specific environmental policies affect affordable housing and energy poverty.
A number of Members of the European Parliament advocated for increased aid to energy communities and urged for revised climate goals for the year 2040. Meanwhile, some other MEPs demanded that the European Union address issues in the rental market, which have been exacerbated by the growth of short-term rentals.
The complete video of the hearing can be viewed by following this link.
After the hearing, Li Andersson, chair of the Employment and Social Affairs Committee and a representative of The Left from Finland, addressed the media. A recording of the event is available here.
Future actions
The heads of the committees and the coordinators from various political groups are scheduled to convene promptly to evaluate the abilities and credentials of the nominee for Commissioner. Following the advice given by the committees, the Conference of Presidents, comprising European Parliament President Metsola and the leaders of the political groups, will undertake the ultimate assessment and officially conclude the hearings on November 21. After this declaration, the letters detailing the evaluations will be made public.
Members of the European Parliament are set to vote on the entire group of Commissioners, needing more than half the votes in a roll-call process. This event is planned for the plenary session in Strasbourg from November 25 to 28.
Contact Information:
Baptiste Chatain
Lieven Cosijn
Additional Details
Product Details
Distribute this Page:
Latest Updates
National Parliament Representation
Resources
European Parliament President
European Parliament Institution
Parliament's Social Media Presence
Informational Resources
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.
Politics
Christophe Hansen’s Vision for EU Agriculture: Fair Prices, Green Goals, and CAP Reform Under Scrutiny
Hearing of the Nominee for the Commission, Christophe Hansen Share this page: On Monday, the Committee on Agriculture and Rural Development conducted an interview with Christophe Hansen, the nominee from Luxembourg for the Agriculture and Food portfolio.
Um 22:30 Uhr treffen sich die Führungskräfte und die Koordinatoren der Fraktionen, um die Fähigkeiten und Qualifikationen des vorgeschlagenen Kommissars zu beurteilen.
Empfehlungen zur Optimierung der Arbeits- und Lebensverhältnisse von Bauern
In seiner Antrittsrede betonte Christophe Hansen, der zukünftige Kommissar für Landwirtschaft und Ernährung, dass neun Millionen landwirtschaftliche Betriebe die Bevölkerung Europas mit sicheren und hochwertigen Lebensmitteln beliefern. Diese Betriebe bilden zugleich die vorderste Verteidigungsreihe gegen den Rückgang der Artenvielfalt und den Klimawandel. Dennoch stehen sie unter wachsendem wirtschaftlichem Druck aufgrund des globalen Wettbewerbs und sind am stärksten von extremen Wetterbedingungen betroffen.
Mr. Hansen agreed to continue the "Strategic Dialogue" initiated by the President of the Commission. He plans to visit farmers across Europe and, in close cooperation with Parliament, develop a "vision for future agricultural and food policy" during his initial 100 days in office. This vision will serve as the foundation for the upcoming reform of the Common Agricultural Policy (CAP).
Hansen, der seine Kindheit auf einem landwirtschaftlichen Betrieb verbrachte, erklärte, er plane, sich auf die Erschwinglichkeit von Agrarland sowie auf angemessene Einkünfte für junge Landwirte zu konzentrieren. Dadurch möchte er ihnen helfen, einen umweltfreundlichen und wirtschaftlich nachhaltigen Wandel im Agrarsektor voranzubringen.
Upcoming Reform of the Common Agricultural Policy
The lawmakers questioned the nominated commissioner about the size and organization of the future budget for the Common Agricultural Policy (CAP) and how he plans to ensure that farmers receive a fair price for their products. Mr. Hansen pledged to explore alternative income streams and promote capital investments while also aiming to further strengthen the farmers' bargaining power.
In Bezug auf die Verringerung des bürokratischen Aufwands für Landwirte und die Verwirklichung der „Green Deal“-Ziele innerhalb der neuen Gemeinsamen Agrarpolitik (GAP) hob Herr Hansen hervor, wie wichtig es ist, die aktuellen Regelungen zu vereinfachen und zugleich die Umweltziele der Europäischen Union zu unterstützen.
In der Debatte thematisierten die Abgeordneten auch die Bedeutung von gleichen Wettbewerbsbedingungen für Landwirte innerhalb der EU im Vergleich zu Produzenten außerhalb der EU. Ebenso wurde der Zugang zu Finanzmitteln und Innovationen sowie die Sicherstellung fairer Löhne für alle im Agrarsektor Tätigen hervorgehoben.
Schauen Sie sich das vollständige Video der Anhörung an.
Upcoming Steps
Based on the committee's recommendations, the Conference of Presidents, which includes EP President Metsola and the heads of political groups, will conduct the final assessment and officially conclude the hearings on November 21. After the Conference of Presidents declares all hearings concluded, the evaluation letters will be made public.
The election of the entire College of Commissioners by the Members of the European Parliament is scheduled to take place during the plenary session in Strasbourg from November 25 to 28. This process will occur through a roll-call vote, requiring a majority of the votes cast.
Contact:
Hana RAISSI
Michaela FINDEIS
More details
Reference
Share this page:
News
The EP in your country
Resources
The President of the European Parliament
European Parliament
The EP on social media
Information links
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.
Politics
EU Candidate Apostolos Tzitzikostas Faces Scrutiny on Sustainable Transport and Tourism Agenda
Listening Session for Commissioner Candidate Apostolos Tzitzikostas
Spread the word:
On Monday evening, members of the Transport and Tourism Committee interviewed Apostolos Tzitzikostas, a Greek nominee for the role focused on sustainable transport and tourism.
The head of the committee and the coordinators of the political group will promptly convene to evaluate the abilities and qualifications of the nominated Commissioner.
Eco-friendly and competitive transportation
During his opening remarks, Mr. Tzitzikostas highlighted his priorities if approved as Commissioner for sustainable transport and tourism. He emphasized strengthening the EU transport sector's competitiveness, adhering to the planned schedule for its green and digital transformations, and finishing the Trans-European Transport (TEN-T) network on time. Additionally, he aims to improve transport safety and enforce existing EU regulations. To promote decarbonization in transport, he plans to introduce a sustainable transport investment strategy in 2025, which will include initiatives like producing sustainable fuels and building charging infrastructure. Regarding competitiveness, he promised to create an EU industrial action plan specifically for the automotive industry.
Addressing the issue of modal shift, the Commissioner-designate expressed his intention to unveil a proposal aimed at linking EU capitals and major cities through high-speed rail networks, which would also incorporate night train services. Furthermore, Mr. Tzitzikostas pledged to introduce a unified digital platform for booking and purchasing rail tickets within the first year of his tenure.
Regarding tourism, he emphasized that the EU should uphold its position as the top travel destination globally. He pledged to develop a plan for sustainable tourism aimed at aiding the industry and safeguarding the quality of life for local residents.
European approaches, job environments, changes in transportation methods
A number of Members of the European Parliament (MEPs) urged the Commissioner-designate to back the transport and tourism industries within the European Union and to seek out solutions on an EU-wide scale. Among the requests made by the MEPs to Mr. Tzitzikostas were streamlining bureaucratic processes, reducing the need for extensive reporting, and halting new initiatives that haven't undergone an impact assessment.
Members of the European Parliament inquired about the labor conditions within the transport industry, focusing particularly on the aviation and maritime sectors. They received an assurance from Mr. Tzitzikostas that he would conduct a thorough assessment of the current state in these areas within his first 100 days in office.
During the discussion, members inquired of Mr. Tzitzikostas about several key issues: the examination of aviation services and regulations regarding air passenger rights, strategies to shift transport from roads to railways, specific initiatives to promote high-speed and overnight train travel, the advancement of eco-friendly corporate vehicle fleets, and further actions to enhance safety in transportation.
Mr. Tzitzikostas was asked about particular strategies to save the EU's car industry, the funding required to finish the TEN-T network, and the initiatives to maintain maritime safety while addressing the interference from Russia's covert fleet of vessels.
You can view the complete hearing's video recording at this link.
Media briefing
Following the conclusion of the hearing, Ms. Elissavet Vozemberg, who serves as the Chair of the Transport and Tourism Committee, addressed the media outside the meeting venue. You can view her remarks here.
Upcoming Actions
Following the advice of the committee, the Conference of Presidents, which includes EP President Metsola and the leaders of the political groups, plans to carry out the final assessment and officially conclude the hearings on November 21. After the Conference of Presidents announces the conclusion of all hearings, the evaluation letters will be made public.
Members of the European Parliament are set to vote on the complete group of Commissioners in a roll-call vote, requiring a majority of the ballots cast. This vote is planned for the plenary session occurring from November 25 to 28 in Strasbourg.
Connections:
Gediminas VILKAS
Kyriakos KLOSIDIS
Additional details
Details about the product
Distribute this page:
Updates
Your nation's Parliament
Resources
Leader of the European Parliament
European Parliament
Parliament's presence on social platforms
Informational connections
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.
Politics
MEPs Scrutinize Commissioners-Designate in Intense Confirmation Hearings: Democracy, Innovation, Energy, and More Under the Spotlight
EP TODAY
Distribute this page:
Tuesday, November 5
Today marks the continuation of the confirmation hearings for the nominated Commissioners. Members of the European Parliament (MEPs) will assess if these nominees possess the necessary qualifications to join the College and effectively perform the specific responsibilities they have been appointed to.
Discover comprehensive details regarding the hearings procedure and ways to stay updated on them.
Every hearing is open to the public and can be watched live via Parliament's web streaming service and Ebs/Ebs+.
For more details, visit the specialized website created by Parliament for the hearings.
Look for official statements about the sessions.
The schedule for today's hearings is outlined below:
From 9:00 AM to 12:00 PM, in room ANTALL 2Q2.
Michael McGrath
Position: Overseer of Democracy, Justice, and Legal Governance
Committees in Charge
Panel on Individual Freedoms, Law, and Domestic Matters
Panel for Domestic Market and Consumer Safeguards
Legal Affairs Committee
Connections
Kyriakos Klosidis
The phone number is: +32 470 96
Justice in the European
Martina VASS
Phone number: +32 477 99 11 57
EP_Legal
Eoghan WALSH
The phone number is +32 485 399443.
The hearing is available for live viewing.
Javier Zarzalejos from the European People's Party in Spain, who leads the Committee on Civil Liberties, Justice and Home Affairs, along with Anna Cavazzini from the Greens/European Free Alliance in Germany, the head of the Committee on the Internal Market and Consumer Protection, are scheduled to address the press following the hearing, which will take place outside the meeting room.
After the hearing, Michael McGrath, who has been nominated for commissioner, will address the media.
You have the option to watch their speeches in real-time through Parliament's online broadcast and on EbS.
From 9:00 AM to 12:00 PM, location: room ANTALL 4Q2
Ekaterina Zaharieva's Name
Role: Head of Startups, Research, and Innovation
Committee in charge
Panel for Industry, Research, and Energy
Connections
Baptiste Chatain
Phone number: +32 498 98 13 37
Industry Report
YAKIMOVA Yasmina
Phone number: +32 470 88 10
The hearing is available for live viewing.
After the hearing, Ekaterina Zaharieva, the nominee for Commissioner, will address the media outside the meeting chamber. The event will be broadcast live on Parliament’s webstreaming service and on EbS.
2:30 PM to 5:30 PM, location ANTALL 2Q2
Dan Jørgensen's name
Role: Energy and Housing Commissioner
Committee in charge
Panel on Industrial, Scientific, and Energy Matters
Panel on Jobs and Community Welfare
Connections
Baptiste Chatain
Phone number: +32 498 98 13 37
EP_Sector
Lieven Cosijn
Phone number: +32 473 864 141
EP Social Matters
Contact number for Thomas HAAHR: +32 470 88 09 87
The hearing is available to view in real-time.
Borys Budka, a member of the European People's Party from Poland, serves as the head of the Committee on Industry, Research, and Energy.
Li Andersson, representing The Left from Finland and serving as the Chair of the Committee on Employment and Social Affairs, is scheduled to address the media in a briefing following the hearing, which will take place outside the meeting room.
Following the hearing, Dan Jørgensen, who is nominated for the commissioner position, will address the media.
You have the option to watch their speeches in real-time through the Parliament's online streaming service and on EbS.
From 2:30 PM to 5:30 PM, in room ANTALL 4Q2.
Šuica, Dubravka
Role: Mediterranean Affairs Commissioner
Committee in charge
Foreign Affairs Committee
Connections
Viktor Almqvist
The phone number listed is (+32) 470 88
EP_ForeignAffairs
Snjezana Kobescak Smodis
Phone number: +32 470 960 819
Foreign Affairs of the European Parliament
You have the option to view the hearing as it
6:30 PM to 9:30 PM, location: room ANTALL 2Q2
Jessika Roswall
Role: Overseer of Environmental Affairs, Water Sustainability, and a Thriving Circular Economy
Committee in Charge
The Environmental, Health, and Food Safety Committee
Ways to Reach Out
Dana POPP
Telephone number: +32 470 95 17
Environmental Protection Authority
Viktor ALMQVIST
Phone number: +32 470 88 29
The hearing is available for live viewing.
Antonio DECARO, representing the S&D group from Italy and serving as the Chair of the Committee on the Environment, Public Health and Food Safety, is set to address the press following the hearing, just outside the meeting venue. The event will be broadcast live on the Parliament's webstreaming service and on EbS.
6:30 PM to 9:30 PM, location ANTALL 4Q2
Magnus Brunner
Role: Commissioner for Domestic Affairs and Migration
Committee in charge
Panel for Civil Rights, Justice, and Domestic Matters
Connections:
OJAMO Janne
Phone number: +32 470 89 21
EP_Justice
Polona TEDESKO can be reached at the phone number +32 470 88 42 82 for matters
Michaela FINDEIS
Phone number: +32 498 98 33 32
The hearing is available for live viewing.
Javier Zarzalejos, a member of the European People's Party from Spain and the head of the Committee on Civil Liberties, Justice and Home Affairs, is set to address the media following the hearing. This briefing will take place outside the meeting venue. The event can be watched live via the Parliament's online streaming service and on EbS.
Contact Information:
Media Center
Details on Products
Distribute this page:
Updates
Parliamentary Activities in Your Region
Resources
Leader of the European Parliament
The European Parliament
Parliament’s Social Media Presence
Informational Resources
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.
Politics
EU Commissioner-Designate Ekaterina Zaharieva Vows to Propel Research and Innovation with Ambitious European Innovation Act
Hearing for Nominee Ekaterina Zaharieva
Share this page:
The Industry, Research and Energy Committee conducted an interview on Tuesday with Ekaterina Zaharieva, who has been nominated by Bulgaria to oversee the Startups, Research, and Innovation portfolio.
The head of the committee and the coordinators from various political groups will promptly convene following the hearing to evaluate the abilities and qualifications of the Commissioner-designate.
During her opening speech, Commissioner-designate Zaharieva emphasized her commitment to making Research and Innovation (R&I) a central part of the EU's strategy for enhancing competitiveness. She pointed out that there is currently an opportunity to invest in R&I more strategically, aiding Europe in its digital and low-carbon transitions. Zaharieva noted that Europe lags behind the US, China, and Japan in R&I funding. She promised to propose a European Innovation Act aimed at encouraging Member States to hit the 3% R&I spending target, prevent the loss of talent, protect research freedom, invest in R&I infrastructure, and bolster the European Research Council.
Assistance for New Ventures and Small Businesses
Ms. Zaharieva called for a detailed plan aimed at aiding the expansion of start-ups and small businesses by making it easier for them to secure funding and reducing bureaucratic hurdles.
The proposed commissioner advocated for a plan to enhance European life sciences, promote the integration of artificial intelligence in scientific research, and introduce legislation focused on advanced materials.
Ms. Zaharieva expressed that the Commission ought to propose an action plan aimed at advancing the role of women in research and innovation. She also called for a substantial budget for research and innovation in the upcoming multi-year framework program. Regarding international relations, she emphasized that the EU must uphold the principles of fairness, equitable opportunities, and strategic independence. Additionally, she committed to collaborating extensively with researchers and innovators from Ukraine.
Streamlining bureaucracy for small and medium enterprises and increasing research funding
Throughout the debate, numerous Members of the European Parliament urged the Commission to encourage member countries to achieve the long-standing goal of allocating 3% of GDP to research and innovation. They also stressed the importance of maintaining the EU research program's autonomy and called for increased EU-level research funding. In reply, the Commissioner-Designate pledged to champion a strengthened and autonomous Framework Programme and suggested raising the research and innovation target to 4% by the year 2030.
A number of Members of the European Parliament have advocated for reducing bureaucratic obstacles faced by small and medium-sized enterprises (SMEs) seeking EU research funding. Ms. Zaharieva expressed her support for significantly simplifying the procedure through a two-step application process to reduce bureaucratic hurdles. Additionally, some MEPs emphasized the need for EU research and innovation policies to concentrate more on nuclear research, especially in light of the transition to low-carbon energy sources.
The complete hearing is available to view as a video recording here.
Following the hearing, Ms. Zaharieva issued a statement, which you can view here.
Future actions
Following the suggestions put forward by the committee, the Conference of Presidents—which includes EP President Metsola and the leaders of the political groups—is expected to make their concluding assessment and formally announce the closure of the hearings on November 21. After the Conference of Presidents finalizes this closure, the evaluation letters will be made available to the public.
Members of the European Parliament (MEPs) are set to vote on the entire group of Commissioners, requiring a majority of the votes in a roll-call process. This vote is planned for the plenary session in Strasbourg, which is scheduled for November 25-28.
Contact Details:
Baptiste CHATAIN
Yasmina YAKIMOVA
Eszter ZALAN
Additional Details
Product Details
Distribute this Page:
Updates
Parliament in Your Nation
Resources
Leader of the European Parliament
European Parliament
Parliament's Social Media Presence
Informational Resources
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.
-
Tech1 month ago
Revving Up Innovation: How Top Automotive Technology Trends are Electrifying and Steering the Future of Transportation
-
Tech1 month ago
Revving Up Innovation: The Drive Towards a Sustainable Future with Top Automotive Technology Advancements
-
Tech1 month ago
Revving Up Innovation: How Top Automotive Technology is Shaping Electric Mobility and Autonomous Driving
-
Tech3 weeks ago
Revving Up the Future: How Top Automotive Technology Innovations are Accelerating Sustainability and Connectivity on the Road
-
Tech4 weeks ago
Revolutionizing the Road: How Top Automotive Technology Innovations Are Paving the Way for Sustainability and Safety
-
Tech1 month ago
Revolutionizing the Road: The Top Automotive Technology Innovations Driving Us Toward an Electric, Autonomous Era
-
Tech4 weeks ago
Revving Up Innovation: Exploring the Top Automotive Technologies Fueling a Sustainable and Connected Future
-
Tech3 weeks ago
Revving Up Innovation: How Top Automotive Technology is Shaping an Electrified, Autonomous, and Connected Future on the Road