The EU Commission has annouced it’s biggest ever Research and Development fund of €7bn. Under the EU’s Seventh Framework Programme for Research,it is expected to create around 174,000 jobs in the short-term and nearly 450,000 jobs and nearly €80bn in GDP growth over 15 years.
Speaking at the launch in Brussels today, Commissioner Geoghegan-Quinn said: “Europe is again showing its commitment to putting research and innovation at the top of the political agenda for growth and jobs. “EU-wide competition for these funds will bring Europe’s best researchers and innovators together to tackle the biggest issues of our time, such as energy, food security, climate change and our ageing population. The Commission is proposing a significant increase in research and innovation funding for our Horizon 2020 programme post-2013 and I want to show taxpayers already with the calls we are announcing today our determination to get the best value for every euro.”
The EU wants business across Europe to compete against other industrial powers like the USA and China.