The new European Commission will start its five-year term on 1 November, but what will it be working on? President Jean-Claude Juncker has already announced a €300 billion investment plan, but there will be many other plans that will have to be scrutinised and voted on by the European Parliament before they can enter into force. There are also plans inherited from the previous Commission that have to be dealt with, from roaming charges to banking reforms. Read on to find out what is coming up.
Incoming Commission President Juncker recently promised a €300 billion investment programme to boost growth and create jobs in Europe, which would have to be approved by the Parliament and the national governments before it could be implemented.
In addition, the Commission is planning new initiatives to help companies raise money for investment, not just through bank loans but also on the capital markets.
Also expected are proposals to reform the banking sector by requiring very large banks to separate their risky trading activities from their deposit-taking business. Work has also started on new rules to limit fees for card payments and prevent the manipulation of financial benchmarks.
Plans designed to end roaming charges and protect the principle of net neutrality will be further debated as part of the new telecoms package. Agreement will also have to be found on new data protection rules In the coming months.
There will be new goals for emissions, renewables and energy savings for 2030, as well as measures to reduce the EU's dependency on energy imports.
Meanwhile, legislative work has started on novel food, stricter air quality standards, the reduction of plastic bags and the cultivation of genetically modified crops
The Commission will also continue the EU’s trade talks, especially with the US (Transatlantic Trade and Investment Partnership). The Parliament will closely follow these negotiations as any trade agreement needs to be approved by MEPs before it can enter into force.