In a joint follow-up letter adressed to Internal Market Commission Thierry Breton published today, EBC, FIEC and CPE reminded their request that the European Recovery Fund (in addition to the usual public level of spending) includes construction as one of the key industrial ecosystems with an amount of at least €320B of dedicated budget.
The EU construction representatives took this opportunity to better elaborate on the beneficial effects of investing in the EU construction ecosystem, i.e. the multiplier effect of investing in the construction sector.
In this sense, they shared their support to what Vice-President Timmermans told the European Parliament’s Committee on Industry, Research and Energy (ITRE) on Friday 8 May: “Investing in construction leads to immediate results and that affects the whole value chain of the European economy, benefits to small and medium enterprises more than others”.
Indeed, according to studies and estimations, an initial dedicated budget of €320B to the construction ecosystem in the EU Recovery Plan would have a multiplier effect (leverage factor) ranging between €608B and €928B.
In addition to the economic multiplier effect, investing in the sector will produce huge environmental, economic and social spillovers by creating value added jobs, positively contributing to the recovery of local economies, delivering the growth strategy of the European Green Deal, as well as ensuring a better quality of living for people as citizens.
This letter intends to help the European Commission in its further elaboration and preparation of the framework for the European Recovery Plan.
Click on the image below or here to read the full joint letter