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Investment in research, education and innovation must be secured in the EU’s next long-term budget

 | Press releases and News

Investing in research, education and innovation is extremely important for the future of Finland and the whole of Europe. Otherwise we will not be able to reach the sustainable development goals of the United Nations and secure the future for the coming generations. Therefore, Finnish universities call on national leaders to make investing in knowledge a top priority for the European Union’s next Multiannual Financial Framework (MFF) 2021–2027.

Universities are worried about the information that in the negotiations, the EU’s research and innovation framework programme Horizon Europe might face cuts of many billions of euros in comparison with the original proposal by the European Commission. Universities Finland believes it’s crucial to prevent these cuts from happening.

Investing in research and education is the most sustainable and future-oriented commitment that the EU can make to its citizens. It means investing in the future generations of Europeans and developing human capital. Also, it is an important requirement in order to make the EU a world leader in innovation-driven growth and competitiveness. It is important to remember that investing in R&I is efficient use of public funds. Every €1 invested in R&I generates an average of €13 in value added for business. Also, EU research funding helps to create jobs and contributes to important policy priorities such as economic growth, adapting to climate change and social inclusion.

According to the European University Association, the level of public investment in universities has been declining in many countries across Europe since the start of the financial and economic crisis in 2008. Also, the EU target for 3% of GDP to be invested in R&D remains out of reach. The negotiations for the next MFF will be an excellent opportunity to change direction. By investing in research, education and innovation, we can create leverage, support key policy priorities and help ourselves in tackling global challenges.

Universities are counting on national leaders to work towards an ambitious agreement by the end of the year. Investment in knowledge now will save us time and money in the future.

More information: #EUInvestInKnowledge campaign

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