« High yields for savings »: what's in the EU plan to move 10 thousand billion stops on current accounts
Von der Leyen: « Families will have more opportunities to invest to increase their wealth, companies easier access to capital ». Tax incentives and reinforcement of pension funds are planned
Channel the savings of private individuals to productive investments, offer European citizens a wider access to the capital markets – improving the returns of their investments – and open New financing options for businesses. The objectives of the strategy for the Savings and Investments Union (Siu), the plan for the union of savings and investments Presented on Wednesday.
New investments for 350 billion
« With today's proposal for a union of savings and investments we are obtaining a double victory – said the President of the European Commission Ursula von der leyen – Families will have greater and safer opportunities to invest in the capital markets To increase your wealth. At the same time, companies will have easier access to capital to innovate, grow and create good jobs in Europe, « he underlined.
According to an analysis of the European Central Bank, The Union has about 10,000 billion euros in savings deposited with banks, in accounts that make less than investments in the markets. It is a resource that, if you get invested better, could generate up to 350 billion euros per year In new investments according to the calculations of the Commission.
The Italian case
Only in Italy, out of a total of the financial wealth estimated by the Bank of Italy at the end of 2024 in a higher value At 5,500 billion, the share held in liquidity and current accounts, with very low yield (0.82% per year according to the ABI data from February), amounted to about 1,360 billion. While Enrico Letta's report on the future of the single market has highlighted that « every year more than 300 billion euros leave Europe to invest in the United States because the European market is fragmented ».
The 4 pillars of the plan
The Siu plan is divided into four pillars: to encourage citizens' saving in market tools, facilitate access to companies for companies, remove barriers to the full integration of financial markets and guarantee homogeneous supervision at European level. The creation of savings and investment accounts with tax incentives, the strengthening of pension funds and the improvement of regulation for institutional investments.
New accounts and savings products
In particular, the Commission will develop a European model for accounts or savings and investment products for retail investors based on the best national practices, including recommendations to Member States on tax treatment for these investment accounts. «These savings or investment accounts, combined with adequate tax treatment, they can expand the range of loans available for EU companies and contribute to meeting the EU investment needs in the green and digital transitions, as well as in the defense», It is underlined.
Incentives for supplementary pensions
It is also underlined that «actions on supplementary pensionsboth by the EU and the Member States, will be particularly advantageous for citizens « . Siu « tries to develop and improve supplementary pensions in a way that integrates public pensions with a strategy to promote automatic enrollment in supplementary pension regimes ».
In addition, the Commission will also collaborate with the group of the European Investment Bank (Bei), the European stability mechanism (MES) and national promotional banks, among others, to « explore how to increase the opportunities for retail investors to access suitable financial products that allow them to contribute to the financing of the EU priorities ».
European saving, precious resource
« Europeans are among the best savers in the world, But many of their savings are deposited in low performance deposit accounts – said Maria Luís Albuquerque, commissioner for financial services and the union of savings and investments – at the same time, Europe is struggling to meet its investment needs. With the Siu, we can create a virtuous circle for the benefit of both citizens and companies, helping Europeans to obtain a better performance on their savings hard earned, while making substantial investments in the economy « .
