FIEC calls for greater transport spending for Europe

The FIEC, which represents Europe’s contracting firms, is calling for greater spending on developing the transportation network. According to the FIEC, a stronger EU budget for transport is of importance for the European economy. An official statement said, “On its own, completing the TEN-T network will create 10 million extra jobs by 2030. State-of-the art transport infrastructure is also an investment in long-term growth and jobs. Investing €750 billion could generate € 4,551 billion additional GDP.” The
October 7, 2019 Read time: 2 mins

The FIEC, which represents Europe’s contracting firms, is calling for greater spending on developing the transportation network. According to the FIEC, a stronger EU budget for transport is of importance for the European economy. An official statement said, “On its own, completing the TEN-T network will create 10 million extra jobs by 2030. State-of-the art transport infrastructure is also an investment in long-term growth and jobs. Investing €750 billion could generate € 4,551 billion additional GDP.”

The Trans-European Transport Network (TEN-T) policy aims to remove bottlenecks, address missing links, improve interoperability among different transport modes and among regional and national transport infrastructure and integrating urban areas into the network. Established by the Treaty of Maastricht, its last revision was in 2013. The 2013 Regulation differentiates etween a comprehensive and a core network - the former including remote areas, the latter containing corridors of “highest strategic importance”. According to the Regulation, the core network should be completed by 2030 while the comprehensive network should be established in 2050.

In order to foster investment in the TEN-T and to meet the policy’s objectives, a specific funding instrument, the Connecting Europe Facility (CEF), was established in 2013. Regrettably, the CEF is currently strongly under financed. Since 2017, three years before its end, the CEF budget for transport has all been used. The demand for CEF funds has exceeded the available resources by around 150%. If the CEF transport budget does not increase in 2021-2027, the completion of the core network is at risk due to insufficient budget. In fact, the completion of the core network by 2030 requires more than €750 billion.

Finance & Funding

Related Content

  • CECE-CEMA hands 10-point action manifesto to Euro leaders
    October 17, 2013
    The presidents of the CECE and CEMA have handed the European Parliament a 10-point manifesto for securing strong industrial production across Europe. Doing this, the European construction equipment and agricultural machinery industries underlined that they are committed to playing an active role in reaching the target of the European Commission to raise the share of industry in Europe from 16% GDP to at least 20% by 2020. Both industries maintain important production facilities and R&D sites in Europe.
    Read More
  • Active travel can drive urban economic growth and save health funds
    November 7, 2012
    Experts in health, city planning, environment and transport from Europe and the United States, including several local authorities, stressed how active travel can drive urban economic growth and save public health funds during a recent prestigious workshop event in Brussels, Belgium. Integrating health aspects in transportation planning was the focus of The Polis Environment & Health working group meeting at the European Economic and Social committee on 30th October. The event gathered experts from organisa
    Read More
  • Importance of continued transportation investment
    February 27, 2012
    The US infrastructure network requires urgent attention - * T Peter Ruane. America's transportation infrastructure was once the "shining light on top of the hill." Major investments in a national highway, bridge, transit, airport, port and waterway system during the 20th century paid great dividends. The free and efficient flow of goods and people across the 50 states led to unparalleled economic expansion. The mobility and prosperity resulting from an interconnected infrastructure was a model for the world
    Read More
  • Importance of continued transportation investment
    May 2, 2012
    The US infrastructure network requires urgent attention - * T Peter Ruane. America's transportation infrastructure was once the "shining light on top of the hill." Major investments in a national highway, bridge, transit, airport, port and waterway system during the 20th century paid great dividends. The free and efficient flow of goods and people across the 50 states led to unparalleled economic expansion. The mobility and prosperity resulting from an interconnected infrastructure was a model for the world
    Read More

Highlighted Content