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The farmer from Normandy, the metallurgist from Salzburg and the engineer from Malmö must feel confident that climate change does not jeopardize their prosperity. Write to all the EU MPs from the moderates.
The Laforsen hydroelectric power station on the outskirts of Kårböle. Now, much-needed investments in hydro and nuclear power are at risk of being lost in the EU, the article’s authors write.
This is a discussion post. Writers are responsible for opinions.
The European Parliament has declared a climate emergency, but we believe that the EU must also address the growth crisis that Europe finds itself in.
It is clear that it costs money to change the economies of the member states to be more climate-friendly. That is why we politicians must ensure that society can afford change and that the citizens of Europe join us.
The farmer In Normandy, the metalworker from Salzburg and the engineer from Malmö must feel confident that climate change does not jeopardize their prosperity. If they cannot trust that it will be combined with increased prosperity, social unrest and dissatisfaction will spread.
The moderates therefore want both the EU and its member states to tackle the growth crisis Europe finds itself in. As much political energy must be invested in increasing economic growth as in tackling climate change. The growth crisis is as serious as climate change.
One initiative that is being debated a lot right now is the EU classification of what type of energy production is sustainable or unsustainable, the so-called taxonomy, to encourage sustainable investment.
That may sound commendable. But the design of the proposal runs the risk of becoming counterproductive because there is a risk that both hydroelectric and nuclear power will be classified as unsustainable.
The proposal is not only reprehensible from an economic point of view. It is also bad climate policy because neither hydroelectric nor nuclear power generates emissions. If the proposal becomes a reality, it would severely affect Sweden’s power supply, which relies mainly on hydroelectric and nuclear power.
The time has come for the EU to rethink several areas. A good start is to recognize that the Union is going through an acute growth crisis.
Before the pandemic hit Europe, Sweden had the lowest per capita growth in the Union. For the EU as a whole, the curve doesn’t look good either.
A topic of conversation An example of Europe’s problem is also that today’s GDP per capita is significantly higher in the United States than in the EU. This means that the average American is doing better than the average European. For most of the past ten years, the United States has also had higher real growth than the EU, often one or two percentage points higher. It doesn’t sound like much, but with average growth of 2 percent, it only takes a generation to double prosperity, with 1 percent growth, almost double.
Unfortunately, politicians on the left do not seem to see the growth crisis as a problem and worry about its effects, they worry about distributing the economic pie, but they don’t care that it has to grow.
It should be easier to contribute to growth. Therefore, you need a strong business community, a free market, and a population equipped to work.
Four measures are particularly important for the success of Europe:
1. It allows and encourages innovation in climate work. It is not possible to achieve the climate goals of the UN and the EU without technological development. Anyone who says otherwise is ignorant of reality or doesn’t care that people have jobs to go to. The closest solution in terms of new technology is the capture and storage of carbon dioxide. Therefore, the EU should allow countries to consider this technology in terms of emissions in order to increase incentives to invest in innovations.
2. Make it easier and more predictable to invest in emission-free energy sources. The taxonomy when it comes to green investments is a good example of how bad things can go when politicians want to control free capital flows. Well-needed investments in both hydroelectric and nuclear power run the risk of being lost. The market can and wants to invest in sustainable technology, without politicians using indicators. Therefore, it would be better to guide European policy to further facilitate capital flows within the EU.
3. Strengthened line of work and tax freeze at EU level. The line of work must be adopted at the EU level and many countries must fundamentally reform their economies. Every year the European Commission makes recommendations on growth-promoting reforms to all Member States. So far, Member States have applied them very little. When new aid for post-pandemic recovery is launched, it should be a condition that recipient countries implement structural reforms. Furthermore, it is necessary to put an end to the discussions on new taxes at EU level, as advocated by the European Commission, for example.
4. Start a wave of deregulation. Many rules at the EU level serve a purpose, it can be consumer protection, environmental protection or harmonization of regulations to facilitate trade. But many rules are also too burdensome or out of date. An example is how the EU often sees digitization as a threat rather than an opportunity and therefore responds to it with overly restrictive legislation. Going forward, the EU must shift its focus from comprehensive legislation to substantial investments in deregulation within the EU bureaucracy.
The moderates You will never sacrifice or question the benefits of higher economic growth. We will always do everything we can to strengthen the economy, secure jobs, and ensure that prosperity can benefit more people.
Tomas Tobé, Jessica Polfjärd, Jörgen Warborn and Arba Kokalari
MEPs for moderates
