The House of Lords, the second chamber of the UK Parliament, is conducting an inquiry into the effectiveness of European Commission proposals relating to research and innovation. Last year the Select Committee on the European Union examined a number of Commission proposals for projects and strategies containing a strong emphasis on research and innovation with the aim of stimulating growth and jobs as part of Europe’s 2020 strategy. So is research and innovation the way out of Europe’s current woes? And is the way to administer and fund research and innovation working?
We know that the economic returns from research can be sizeable and social challenges such as population aging immense. The only game in town is for Europe to invest in research and innovation. This is key to navigating ourselves out of the lost decade of austerity and improving the health and wellbeing of Europe’s 500 million citizens. The challenge is that many regions globally are also betting their future on the knowledge economy — be it in the Middle East, the Guangzhou Development District in China, Singapore, or elsewhere. So the daunting challenge for Europe’s policymakers is to be world’s finest knowledge-based economy.
To read the full, original article click on this link: The European Commission must support and stimulate the research and innovation needed to take Europe out of the crisis. | EUROPP
