Jun 4, 2020
Europe bets R&D spending will bring jobs to battered economy
Posted by Derick Lee in categories: biotech/medical, economics, employment
The European Union wants a massive dose of research spending to lift it out of what could be the worst recession in its history. Last week, as part of a €1.85 trillion budget and pandemic recovery proposal, the European Commission, the EU executive arm, unveiled plans to pump €94.4 billion into research over 7 years, nearly €11 billion more than originally planned for the program, called Horizon Europe. But not everyone thinks the money is the best medicine.
Horizon Europe gets €13.5 billion to spend fast, spur growth.