The European Parliament adopted the Annual Report on Competition Policy presented by Renew Europe

The European Parliament adopted its annual report on competition policy, for which Stéphanie Yon-Courtin from the Renew Europe Group in the European Parliament is rapporteur. Competition policy is essential to ensure the functioning of the single market, and to maintain a sufficient level of investment and innovation. This vote was originally scheduled for March but it was exceptionally amended again to take into account the consequences of the COVID-19 pandemic. The COVID -19 crisis revealed shortcomings in terms of strategic autonomy and sovereignty for the European Union.

Stéphanie Yon-Courtin, Renew Europe Vice-Chair of the Committee on Economic and Monetary Affairs and rapporteur on the resolution, said after the vote:

"The challenges we are facing at the start of this new decade such as the digital and green transition, globalisation and more recently the COVID-19 pandemic, mean that we need to look again at the existing tools we use to enforce competition rules but also to new ones in order to address challenges ahead in due time. Competition policy will play a major role in achieving a Green, Digital and Resilient Europe, in combination with other sectorial policy such as the Industrial Strategy, trade policy and consumer protection".

"The COVID-19 pandemic highlights the need to reinforce the economic resilience of key European sectors. It's time to give a boost to European projects of strategic interest and remove barriers and obstacles to enable the emergence of innovative EU leaders in specific priority sectors for the EU"

Note to the editors:

The annual report on the Competition Policy has been adopted by a large majority: 521 votes in favour, 41 votes against and 126 abstentions.