We

in the European Union

have a unique model:

A social market economy

which allows economies

to grow

while reducing

poverty

and inequalities.

As the Covid-19

pandemic lockdown

threatens

to shut down companies,

we developed

an instrument to protect jobs

called:

SURE

It kept 2.5

million companies open

and 31.5 million

Europeans employed.

Furthermore,

to help the economies

of all our European Union

countries recover,

we set up a

bold new plan:

NEXT GENERATION EU.

With this plan,

we are investing

more than €800 billion

and helping create

good jobs.

The competitiveness

of our social market economy

is built

on the skills

and the well-being

of our workers.

This has been

at the core

of our action.

We established the pact

for skills

to give workers

the training

they need

to match the businesses

needs.

And we backed it up

with €65 billion

worth of investments.

This is vital

to our people

and our companies,

as two thirds of small

and medium sized

companies in Europe

say that

they cannot find

the talent they need.

Our competitiveness

is also built

on working conditions

that allow workers

to thrive

and to focus on the job.

This is why

we have introduced

an EU framework

promoting collective

bargaining

and improving

the adequacy

of minimum wages.

Workers

should earn wages

that allow a decent

living

wherever they work.

Our economies

and societies

are constantly evolving

and new ways of

working are emerging,

But those also come

with challenges.

For instance,

in terms of access

to labor rights

and social protection.

This is why

we have introduced

rules to improve

the working conditions

in platform work.

In 2021,

over 500

digital platforms

were active in the EU,

offering work to over 28

million people.

Furthermore,

we introduced

a child guarantee

for families in need

so that they can

afford childcare

and mothers

and fathers

can go to work.

Because Europe needs

all of its talent.

We set rules on

pay transparency.

Equal work

deserves equal pay,

no matter

whether you are a woman

or a man.

We brought more women

in Europe's

corporate boardrooms

by setting targets

that 40% of

non-executive directors

have to be women.

This is not just good

for women,

it is also good

for our economy.

Companies

that are more diverse

are also

more successful.

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