36. Notes that the European Union is still
lagging behind the speed of innovations in the US economy; points out that innovation can ensure a speedy recovery of European economies by providing comparative advantage on global markets; points out that, in times of economic downturn, it is common practice to cut back on R%D spending, but that this is the wrong approach, since it is exactly the opposite that needs to be done; believes that increased investment in RD and education enhances productivity and thus growth; calls for investments in research and science with a view to achieving the goal of 3 % of GDP; stresses that the EU budg
...[+++]et must allow for a bigger share of spending for research; considers that Member States should increase, or at least meet, their RD investment targets and should provide support for private-sector RD investments, through fiscal measures, loan guarantees and regional clusters and centres of excellence, and any other instruments that can contribute to this objective; considers that adult education and lifelong learning should be priorities at all policy levels, as they increase productivity, while providing the necessary skills for entering the labour market and staying employable within a highly competitive working area;