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Budget provides further inputs in the competitiveness and renewal of economic activities

Ministry of Economic Affairs and Employment
19.9.2017 11.41
Press release

The 2018 budget of the Ministry of Economic Affairs and Employment focuses on a growth policy that supports the attainment of the objectives for employment and growth set in the Government Programme.

– Finnish economy is now on a growth path. It is particularly important to make sure that the companies will benefit from this growth. This is the aim of many of the actions agreed in the entrepreneurship package, says Minister of Economic Affairs Mika Lintilä.

Bridge Agreement supports the supply of labour for companies

Rapporteur Esko Aho has put forward measures to respond to the positive structural change taking place in South-West Finland. The Government commits itself to the Bridge Agreement proposed by Aho, which comprises issues such as access to labour, regional accessibility, skills and training, and research and development activities. The agreement will be drawn up by the end of the year and implemented within the scope of the spending limits.

– The report on positive structural change by Esko Aho gave us many feasible ideas of how to address the shortage of labour. The proposed Bridge Agreement promotes cooperation between the state and regions in removing bottlenecks in the supply of labour, Minister Lintilä says.

More inputs in internationalisation and innovation policy

Additional inputs are also targeted to supporting growth and internationalisation and innovation policy. Innovation and internationalisation services are being developed towards a one-stop-shop model, as the Finnish Funding Agency for Innovation Tekes and Finpro will be merged to form a new agency, Business Finland. Business Finland will bring all services related to innovation funding, exports, investment and promoting tourism under the same roof. The proposed budget authorisations for grants of Business Finland are a little under EUR 271 million, which is EUR 30 million more than in this year’s Budget. Loan authorisations of Business Finland will increase by EUR 10 million to a total of EUR 157 million.

The basic funding of VTT Technical Research Centre of Finland is increased by EUR 2 million, with the particular aim to strengthen the competitiveness and competence of SMEs and companies operating in growing export sectors

As part of the entrepreneurship package the Government decided to facilitate generation changes and transfers of business by allocating EUR 400,000 to projects concerning these for 2018. Successful generation changes and business transfers play a key role in securing jobs and tax revenues.

– All these actions aim for the same thing: thriving and growing enterprises have access to skilled labour and employ more people while also benefitting from opportunities relating to internationalisation and innovation, Minister Lintilä says.

Jannika Ranta, Special Adviser to the Minister of Economic Affairs, tel. + 358 50 340 2250

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