The European Commission yesterday continued its work of Sisyphus to finalize the recovery plan of the European economy to be adopted tomorrow in Brussels, and including encryption, not yet permanently fixed, should exceed 130 billion euros. "Package" of the Commission should comprise two components: the first, enough general objective would be to coordinate national actions of stimulus, less to align so that they do contradict or offset between them. The Commission would propose a range of ten to fifteen measures frameworks which the thread would be the improvement of competitiveness, innovation, research, the knowledge economy, the fight against climate change, green investments, all directions already promoted by the Lisbon strategy and the Grenelle of the environment.
National contributions
The second component would be more operational and would be focused sectoral actions. He would intervene both Community funds, national budgets and the European Investment Bank (EIB). The bulk of these funds would be provided by national contributions, the Union cannot that redeploy limited credits by definition.
Would be found in this chapter the support to SMEs, the building, in relation to energy efficiency, energy transport infrastructure, the development of green products and support to the automotive sector. Support for European manufacturers should constitute an important chapter of the plan of the Commission. For reasons of competition, it will be in fact a component "transportation" including vehicle manufacturers, equipment suppliers and railway construction sector. The EIB should unlock billions of euros of subsidized loans to support, alongside the Member States concerned and the Commission, the production of cleaner vehicles. In addition, Brussels will propose to relax the control of State aid falling under the threshold of aid below which the Commission does not have to give its green light. It will promote the States to adopt incentive taxation, type incentives, bonus to the renewal of the fleet car or investment support.
Decreases in revenues
But the plan could go beyond. Nicolas Sarkozy yesterday tried to convince Angela Merkel to lower VAT on motor vehicles to support the consumption and the margins of manufacturers. Perhaps can consider tax measures, targeted measures, it will be seen", argued the head of State to the press after the Franco-German Council. Bercy and Matignon work quietly. But "reduced VAT on the car is part of the ideas in the large current brainstorming on the industry, but it is not preferred at this stage," argued yesterday a European diplomat. The opportunity provided to each State to resort to a decrease in the main rates of VAT provided that they do not go below the minimum allowed by 15, as announced yesterday Gordon Brown to the United Kingdom, would be included in the text. Concordant sources, the Commissioner of taxation, Laszlo Kovacs, there is not in favour, believing that decreases in revenue that it would incite help digging deficits. In addition, studies show that the immediate effects on consumption are questionable. The Commissioner would focus a decrease in the taxation of enterprises to encourage them to create or save jobs. VAT may still be used to reduce the price of some goods or services green, little energy.
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