EU Action Plan to boost research efforts in Europe (Extracted from commission press release ahead of the Competitiveness Council of 13 May 2003)

Brussels, 12 May 2003

Research items on the agenda

EU Action Plan to boost research efforts in Europe (FF)

Ministers will exchange views on the Communication "Investing in research: an action plan for Europe" ( COM(2003) 226 ) which was adopted by the Commission on 30 April 2003. This Communication follows a Europe-wide consultation launched in September 2002 with the Communication "More research for Europe: towards 3% of GDP" ( COM(2002) 499 final).

The Action Plan sets out initiatives required to increase the level of investment in research in the EU from 1.9% to 3% of its average Gross Domestic Product (GDP), with two-thirds financed by the private sector, as called for by the March 2002 Barcelona European Council. Meeting the 3% objective is expected to create 0.5% additional growth of GDP and 400,000 additional jobs every year after 2010. Key actions include setting up European technology platforms, strengthening links between industry and public research, redirecting public spending towards research and innovation, making research careers more attractive and developing better fiscal incentives for research.

DN: MEMO/03/103 Date: 12/05/2003