The Grand Committee decided Finland's position on measures to support the EU's economy

The Grand Committee decided Finland's position on measures to support the EU's economy

​At its meeting on 3 February, the Grand Committee decided on Finland's position on measures to support the EU economy. The Committee agrees with the Government's position on the matter.

Like the Government, the Grand Committee considers that it is necessary to assess how the competitiveness of the EU can be secured and the leakage of investments outside the EU avoided in a situation where other key actors, such as China and the United States, support companies operating in strategic sectors and make significant investments in these sectors.

The Committee emphasizes that open competition and a functioning internal market are the basis of the EU's competitiveness, and they should also be the starting point when looking for shorter-term solutions for European competitiveness and strengthening strategic autonomy.

With regard to EU rules on state aid, the Grand Committee, like the Government, considers it essential to secure equal operating conditions for European companies and to prevent state aid competition between Member States. This is important for a small member country like Finland. Any temporary changes to state aid rules should be based on a careful analysis of real needs and should be as precisely targeted as possible. Simplifying the EU rules on state aid ​should be the primary means of achieving flexibility in the state aid rules.

Regarding the US Inflation Reduction Act (IRA), the Grand Committee considers that its effects on the EU's competitiveness must be carefully assessed and that the EU's actions must be proportionate to the possible effects. The key would be to get the most positive solution for European companies regarding the practical application of the IRA legislative package by negotiating with the United States.

Like the Government, the Grand Committee does not support additional funding or completely new EU-level financial instruments in the current situation. Possible new needs to support competitiveness and promote the green transition should primarily be covered by prioritizing and reallocating current EU funds.