Long-term investments: Barriers and opportunities for regions and cities
Urban Intergroup and Long-Term Investment and Reindustrialisation Intergroup hosted yestrerday a joint workshop led by Polis and co-organised by CEMR and EUROCITIES on “Long-term investments: barriers and opportunities for regional and local authorities”.
The purpose of the event was to address the challenges that municipalities, cities, regions and the private sectors face when making long-term investments. The Stability and Growth Pact (SGP), the Treaty on Stability, Coordination and Governance (TSCG) and the European Accounting Standards (ESA 2010) have a strong impact on the regional and local public investments in several sectors such as transport, social housing and waste management.
At the opening of the seminar Jan Olbrycht stressed that “When we are discussing long-term investments at local level we discuss the future of Europe!” Moreover, President of the URBAN Intergroup added that “We need a clear answer what we want from the EU. Do we want to have a European Commission as a kind of agency for private investments or a strong actor in the field of public investments in Europe?”
Municipalities, cities and regions together called for more flexibility in budget and financial accounting rules in order to boost local investments delivering long-term benefits. Bearing in mind the upcoming second iteration of the European Fund for Strategic Investments (EFSI), the future negotiations for the Multiannual Financial Framework (MFF) post 2020 as well as the revision of the European Monetary Union within the next two years, long-term investment will be key to continue supporting growth, employment and efficiency across Europe.
Some key solutions have been suggested during the debate. In that perspective, EU organisations of local and regional authorities are committed to the following actions:
- Seek together with EU institutions how to have some leeway for future local/regional public investments within the Stability and Growth Pact and/or specific funding mechanism such as the EFSI 2.0, also distinguishing investments from operational spending and allowing depreciation over time
- Ensure that a written question is submitted toward the European Commission and the Council in order to seek clarification over PPP treatment under Eurostat rules as well as flexibility when it comes to strategic investments with public funding resources
- Invite Eurostat to explore how to address the impact of local public investments on the debt and deficit of governments for strategic investment such as transport, considered as backbone of the EU economy, as indicated in fall 2016 for efficiency in buildings.
Jan Olbrycht nominated to MEP Awards 2017. Success of the URBAN Intergroup!
Jan Olbrycht, President of the URBAN Intergroup, has been nominated for the MEP Awards 2017.
“I consider that this nomination is not only linked to my work as President of the URBAN Intergroup but is a recognition of our common achievements in strengthening urban areas in Europe!” commented Jan Olbrycht, after he was nominated by The Parliament Magazine for the MEP Awards 2017 in the category Regional Development. “I would like to share with you my proud and gratitude for our common work in the framework of the URBAN Intergroup!”, he added.
The Parliament Magazine writes: “As President of the URBAN Intergroup, this is a testimony to the years of work conducted by Jan Olbrycht in the recognition of cities for the EU’s development. Furthermore, he underlined the need for partnerships in all levels of governance, between European, national, regional and local authorities and other stakeholders.”
Don’t hesitate to share our success on Twitter. https://twitter.com/JanOlbrycht/status/826777801592274945
More information about MEP Awards 2017
