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Overcoming the socio-economic crisis sparked by the Covid-19 pandemic

Andrej Hunko
©Council of Europe

The Parliamentary Assembly today expressed its deep concern about the situation of the vulnerable population 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. They urged States “to rebalance their economic development with social and environmental needs”.

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

By adopting a resolution today, based on the report by Andrej Hunko (Germany, UEL), PACE 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.

The Assembly also 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.

Finally, PACE called on European countries to “donate part of their vaccine stocks to the neediest countries in a coordinated manner”.