Interrupted supply chains during the Coronavirus pandemic led to a global shortage of semiconductor chips. As a result factories closed in many sectors which in turn highlighted the significance of semiconductors for both European industry and society overall. In order to tackle these problems in the long turn the Commission recently proposed the European Chips Act which aims at making the European semiconductor industry more independent.

The debate on the 2022 European Semester Autumn Package with Commission Vice-President Valdis Dombrovskis and Commissioner Paolo Gentiloni in the European Parliament once again fiercely dealt with reforming European fiscal rules. Even though the economic recovery was encouraging, there is not much time left to agree on new fiscal rules before the Stability and Growth Pact 2023 would come into full force again.

On 2 February 2022, Kadri Simson, Commissioner for Energy, discussed the massive increase in energy prices with the European Parliament’s ITRE Committee. Simson expects energy prices to remain high and volatile in the short-term, but regards investments in energy efficiency as the key to solving the problem in the medium to long-term. The AK calls for setting up an Energy and Climate Aid Fund, in order to offer financial support to energy-poor households and to facilitate their participation in a climate-neutral future.

How do we want to reach the pathway towards a digital and climate neutral Europe? The European Commission is currently asking this question in a broad consultation  to cooperatively determine the pathway for Europe’s future as the first climate neutral continent.

On 13 January 2022, EU Commissioner Hahn answered questions on the new own resources package, which the Commission had presented on 22 December 2021. Three new sources of revenues for own resources have been planned for the EU budget: revenues of emissions trading, of the Carbon Border Adjustment Mechanism and of taxing multinational corporation’s profits. From 2023-2030, these new sources of revenues shall generate on average up to 13.5 billion Euro per year for the EU budget.

Just before the start of the new year, the EU Commission took a far-reaching decision: within the scope of the Taxonomy Regulation, fossil gas and nuclear energy are to be classified as green investments. Whilst the majority of EU countries welcomes this delegated act, Austria positions itself at the forefront of opponents and even threatens to sue. However, it is unlikely that the Council will block the Commission’s initiative.

On 22 December 2021, the Commission presented a proposal for a Directive on implementing a global minimum tax in the EU. The Directive proposal is based on the agreement reached by 136 countries at the OECD level in October 2021. From 2023, an effective minimum tax rate of 15 % shall apply to multinational enterprises, which operate in the EU. Action will also be taken to tackle tax swamps.

The fundamental problem of the EU economic governance is that it is primarily geared towards avoiding excessive budget deficits. The evaluation that is now underway should be used to accomplish a reform that enables an active, balanced, well-coordinated and democratic economic governance. Hence, this position paper outlines concrete reform proposals.

The planned rules of the draft Corporate Sustainability Reporting Directive are intended to extend considerably the “non-financial reporting obligation” applicable until now to certain European companies with respect to scope, extent of reporting and inclusion in the framework of corporate governance.

On 9 December 2021, the European Commission submitted an eagerly awaited proposal for a directive to improve the working conditions of people working through digital labour platforms. The proposal comprises three targets: combatting false self-employment, creating more transparency and fairness as well as introducing comprehensive information duties.