Verbatim report of proceedings

Thursday, 25 February 2016 - Brussels

European Semester for economic policy coordination: employment and social aspects in the Annual Growth Survey 2016 (A8-0031/2016 - Sofia Ribeiro)

  Derek Vaughan (S&D), in writing. ‒ I voted in favour of this resolution for a motion. It is vital that the recent overemphasis on fiscal correction is at least slowed and where possible reversed. There has not, in recent times, been enough emphasis on the social and long-term economic costs of this form of reform. It is vital that we properly invest in young people and their skills. Any fiscal correction needs to be based on solidarity, integration, social justice and a fair distribution of wealth; otherwise it only ends up denying people the chance for gainful employment and fuels social inequality. There needs to a rapid and effective response at both ends of the age scale, both for young people, particularly the 12.3% of young people who are not in education or training, but also those aged 55+ who are finding it very difficult to re-enter the labour market. Both of these groups represent human resources that are being wasted by overzealous fiscal correction which is undermining programmes that can provide them with the skills that they need. We need to recognise the importance of investing in people to improve growth.