The Malta Business Bureau has released its position on the Commission consultation on the post-Lisbon Strategy outlining the Maltese business community's expectations on macroeconomic reform targeting economic recovery at both EU and local level. The MBB position is a reaction to the Commission working document Consultation on the future EU2020 Strategy. The Commission working document identifies a three-pronged approach for revising the Lisbon Strategy into the new EU 2020 strategy. This is perceived as a step forward in increasing the focus on the key economic reform priorities for the EU-27.
Feedback from Maltese business warns that the new EU 2020 strategy should not be a repeat of the current Lisbon strategy, namely by missing reform opportunities from an over ambitious plan. The reform process from a national perspective has brought positive results although it was noted that much more could be achieved.
Results so far...Prospects for the future
From a national point of view, the progress achieved through the National Reform Programme (NRP) has led to greater market flexibility. However, the reform process has still to deliver certain crucial elements such as fully-functioning competition policy instruments to ensure proper market surveillance.
The insistence of such drawbacks indicates how the Lisbon strategy failed in translating its policy objectives into tangible measures for businesses, mainly due to the inadequate structure of the implementation monitoring system. Proper adaptation and reinforcement of the methods of delivery associated with the current Lisbon process could lead to better results for the EU 2020 strategy.
Assessing the proposed means...
The approach taken by the Commission in this working paper is a trifocal emphasis on knowledge, inclusive societies and an inter-connected greener EU economy. Amongst the obstacles that the paper highlights, there are several missing links connected to innovation preventing the realisation of an integrated approach to education research and creativity which can ultimately sustain economic growth. The Commission paper also recognises human capital as key to better inclusive societies in the EU through increased job possibilities, equitable opportunities in lifelong learning and better employment rates coupled with sustainable social security for those who are unemployed as well as people in job-to-job or study-to-work transitions.
In line with our consistent leadership on the national debate on the Lisbon Strategy, the Malta Business Bureau will be spearheading the discussions within the local private sector as to how best to articulate a European reform strategy that tangibly delivers on its targets for economic growth and employment creation.