The European Globalisation Adjustment Fund (EGF) increased
On a proposal of the European Commission, MEPs voted last Wednesday in favour of increasing the budget of the European Globalisation Adjustment Fund (EGF), a special funding instrument aimed at expressing solidarity and improving the skills and employability of workers who lose their jobs. This increase would bring the total fund to an average of €225 million per year, compared to €170 million per year previously.
Besides, the scope has been substantially expanded to include redundancies as a result of automisation, digitalisation and the transition to a low carbon economy making the Fund more reactive to the realities of the changing world of work.
Marian Harkin, EDP Irish MEP and ALDE Group shadow rapporteur on this file, pointed out: “This fund is a timely and effective response from the EU which will assist many workers to return to employment or to start their own business following redundancy. The assistance offered is real and practical and tailor made to address the needs of each individual worker. I want to thank my colleagues for supporting two crucial amendments from ALDE Group that specifically expand the scope of the fund to include redundancies as a result of the Brexit.”