European recovery funds

April 26 2021 (12:43 WEST)

We have all heard in recent months about the European recovery funds, but do we know how and where they will be invested for the regeneration of the economy? These economic items that will come from the European Union will be the largest economic resources in the shortest period of time for Spain in history. The Canary Islands, apart from being the autonomous region that leads state aid, with 1,144 million euros, will also be the community that will receive the most money per inhabitant from European funds, a total of 630 million in two years.

All public administrations may have this money. Specifically, the autonomous communities will manage around 50% of the funds with some freedom, since they will not have to wait for the approval of the ministries for each project that is presented; however, they must be investments destined for the ecological transition, sustainability and the renewal of the urban agenda. Local corporations will have about 10% of the resources, which must be directed essentially to the improvement of tourist destinations. In this case, the principle of competitive concurrence will be imposed, that is, the councils and municipalities must prepare spending plans that will compete with the rest of the organizations and the State will then decide which initiatives go ahead.

Regarding the Recovery, Transformation and Resilience Plan of the Government of Spain, this is developed on four transversal axes: the ecological transition, the digital transformation, the territorial and social cohesion, and the gender equality. Likewise, the Plan is structured around ten policies: 1. Urban and rural agenda. Territorial cohesion; 2. Resilient infrastructures and ecosystems; 3. Fair and inclusive energy transition; 4. Public administration of the 21st century; 5. Modernization and digitization of the industry-services ecosystem and SMEs, promotion of entrepreneurship; 6. Pact for science and innovation; strengthening of the National Health System; 7. Education and continuous training, development of capacities; 8. New economy of care and employment policies; 9. Promotion of the culture and sports industry; and 10. Modernization of the tax system.

With respect to the Canary Islands, the policies where these funds will be allocated revolve fundamentally around several axes. In tourism, the energy efficiency of the hotel plant, the inclusion of enabling technology for tourist care, the accumulation of knowledge of data linked to tourists and the activities they carry out in the destination will be promoted.

The ecological transition will go towards a decarbonization model of the Archipelago. All this related to sustainable mobility, promoting the electric vehicle and public transport adapted to the needs of users enhanced by the use of new technologies. Without forgetting renewable energies.

Education will implement three major pillars: digital education, to make it accessible to all students regardless of their socioeconomic status; the improvement of educational spaces; and the recycling and improvement of professionals, promoting vocational training.

Healthcare will be based on the strengthening of primary and community care, the renovation of high-tech equipment and the creation of a health data center that efficiently collects patient information.

Regarding housing, there will be a commitment to the rehabilitation of housing and/or the construction of new homes, always taking into account two factors: energy efficiency and digitization. The latter, deploying fast broadband services in all administrations and homes, including fiber and 5G networks.

We have seen, in broad strokes, where the recovery funds will be destined. We have ahead of us the great challenge aimed at restoring the growth potential of the economy, promoting job creation and promoting sustainable growth. We are in a magnificent position to develop more competitive activities that allow us to create greater added value to the Canary Islands, combining the new tourism model with the other productive sectors to emerge from the crisis stronger and more competitive than previous decades.

 

 

Nauzet A. Duque Torres, Administrator-Manager of PSOE Lanzarote.

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