Govt submits SGP report to parliament

The Sustainable Growth Programme (SGP) for Finland will focus on achieving a fast-track recovery, structural reform of the economy, and public services reform, according to the government report submitted to parliament on Friday.

The reforms and investments proposed in the SGP will accelerate the fight against climate change, boost productivity and economic growth potential, and ensure inclusiveness in society.

The report was prepared by the Ministry of Finance, which was assisted by an inter-ministerial coordination group appointed by the prime minister in September.

The preparation also involved close dialogue with regional organisations, local government, the business sector and the scientific community.

The report gives parliament an opportunity to take a view on how to best use the financing from the EU’s recovery instrument.

The plans must be ready by the very start of 2021 to allow Finland to prepare for the next steps in the EU’s decision-making and to benefit quickly from the opportunities provided by the recovery instrument.

The Sustainable Growth Programme for Finland will support economic, social, and environmental sustainability goals in a variety of ways.

A key element of the programme is to accelerate the green transition and digital transformation through innovative solutions and new technologies. At least half of the Sustainable Growth Programme will focus on investment and reform packages for the green transition.

Priority will be given to measures which improve employment, competitiveness and the sustainability of public finances and which help with net emissions reductions, and strengthening the circular economy and adaptation to climate change. Attention will also be given to how these measures can support Finland’s recovery from the COVID-19 crisis. How quickly the investments and reforms can be put into place is also an important consideration.

The Sustainable Growth Programme for Finland is intended to be financed using funding provided from the EU stimulus package in 2021–2023. The programme takes into account not only the finance from the Recovery and Resilience Facility (RRF) but also other EU programmes and instruments receiving additional funding via the stimulus package.