While the EU’s long-term budget is the main financial framework for the Union’s spending programmes, it must also reflect clear political priorities. The EU budget is a key catalyst for national reforms and promotes socio-territorial cohesion with a clear cross-border effect. As an investment instrument, the MFF has a critical leverage to finance common public goods with high societal returns and promote policies to foster cohesion and social progress. The European Pillar of Social Rights, proclaimed by EU institutions and Member States in 2017, is a critical milestone in this context. To foster social fairness, resilience and a more inclusive Union, the Social Pillar needs to be adequately funded in the next MFF, with a specific focus on the instruments under the proposed MFF heading 2: “cohesion and values”. In addition, the proposed InvestEU Fund can provide complementary financing via a dedicated “social investment and skills” policy window to help unlock projects which require long-term investments, specifically with regard to social infrastructure, provided the investment logic is in line with EU social policy objectives and the principles enshrined in the Pillar of Social Rights.
