The European Council has reached a historic agreement on a EUR 750 billion package for rebuilding the European economy following the COVID-19 pandemic: EUR 390 billion in direct aid and EUR 360 billion in loans. Spain will receive EUR 140 billion.
It is cause for celebration that we have a budget settlement and funding to boost recovery and that the EU is able to find solutions to our shared issues.
We find it regrettable at the same time, however, that there have been severe cuts to R&D funding, from EUR 13.5 billion to EUR 5 billion. The EU Horizon programme, which funds research and innovation projects, has seen funding reduced to just EUR 5 billion.
It is a pity that there is no commitment to innovation, the importance of which is all the more evident in the current coronavirus health crisis, immersed as we are in the race for the COVID-19 vaccine.
We hope that within the framework of the European pharmaceutical policy, Incentive Review, an industrial policy will be promoted and revived to support innovation and knowledge, recognising their value within the health, industrial, employment and economic spheres.
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