Progressive Economics Network

The 4th session of the Progressive Economics Network took place in Brussels and focused on three aspects of the European green industrial and investment strategy:

1. The need to increase Member States’ capacity to deliver on industrial policy and green investment ambitions, including analytical, project development and project deployment capabilities;
2. The trade-off between an industrial policy that is conducted on a Member State level on the one hand,  and the European objectives of openness and convergence on the other;
3. The necessity to update the European fiscal and investment framework to create space for industrial policy, decarbonisation of buildings and transports and clean energy investment while ensuring fiscal sustainability.

The Progressive Economic Network’s aim is to further the discussion of these issues by convening key economic advisers, leading researchers and decision-makers to allow for open, frank and private discussion.

The key questions for the discussions included:

• What lessons can we draw from the design and implementation of the US industrial strategy and from the NextGenEU experience for the EU’s capacity to implement industrial strategy successfully while tackling regional inequalities and fostering cohesion?
• How can the EU’s goal of openness and cohesion be combined with ambitious industrial strategies driven by member states?
• How can member states and EU institutions mobilize resources to make the most use of available funding (e.g., RRF, RePowerEU, STEP, IPCEIs, and Just Transition Fund, EIB and national development banks) for the decarbonisation of industry, transports and buildings?
• How can the EU macroeconomic framework and fiscal policy, more specifically, become more supportive of Green Industrial Policy in Europe and the EU Green Deal targets?
• How can progressives showcase leadership and vision on these themes ahead of the European 2024 Elections?