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Measures to combat the socio-economic crisis sparked by the Covid-19 pandemic

The Social Affairs Committee today expressed its deep concern about the situation of the vulnerable population that has been harshly affected by the socio-economic crisis sparked by the pandemic. “The recession caused by the Covid-19 has resulted in deep shortfalls in resources for enterprises, workers and States, as well as in global investment flows, impacting vulnerable groups in sanitary, social and economic terms,” the parliamentarians said.

To foster socio-economic recovery, while guaranteeing adequate social protection to all, the committee encouraged States to expand their fiscal capacity and public investment programmes, in order to improve accessibility of public services, stimulate employment, enhance professional opportunities for young people, and ensure an adequate minimum income and social protection.

The report by Andrej Hunko (Germany, UEL), adopted today by the committee, also recommended consolidating public finances, in particular by raising new resources through the introduction of a tax on financial transactions and by considering forms of property taxation or levies for the wealthiest parts of society.

According to the adopted text, States could ensure financial support to enterprises in exchange for their commitment to guarantee workers' social rights, such as the preservation of employment.

Finally, the committee stressed the need for the European Social Charter to be modernised with new rights being recognised to meet the many challenges raised by the pandemic.