A Budget that extends the safety-net for Businesses, more tax incentives should follow to enable new investments
19 October 2020
Budget 2021 The Malta Chamber of SMEs is pleased to see a number of its...
The GRTU has this week participated to a consultation session organised by MEUSAC on the multiannual financial framework (MFF) for the period 2014-2020 presented by the European Commission on 29 June and entitled "A Budget for Europe 2020", which will be decisive for the implementation of the Europe 2020 Strategy in general but also to determine the possibilities the European Institutions will have to support Crafts and SMEs in Europe.
The EU Budget exists to fund activities and projects of common interest to the Member States (MS) such as the Common Agricultural Policy (CAP), regional development, the environment, climate change etc… This also so EU action in these areas would be unified. The commitments are divided under a number of headings:
The total commitment is of 1,025B, funds which are also targeted to help the MS meet the targets set out in the EU 2020 strategy.
GRTU's general assessment of the MFF proposal is that compared with the needs of the SME sector we find it quite positive:
Furthermore, the proposal states that the access to all programmes relevant for SMEs should be facilitated by simplifying rules, reducing costs of participation, accelerating award procedures and providing a "one-stop-shop" to make life easier for beneficiaries of EU funding.
However, the real results from the MFF for Crafts and SMEs in Europe will strongly depend on the specific programmes, which will be elaborated on the base of the framework, and on their concrete implementation. Both will be decisive to assess how much SMEs will profit from the MFF.
The main aspects as regards these questions – which have to be followed-up carefully are:
The Commission proposal in general goes in the right direction – it "ticks the right boxes", but there is still a long way to go to make these proposals a reality for our Crafts and SMEs.
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