Spending Smarter [ Report of the National Advisory Board on Science and Technology, Committee on Federal Science and Technology Priorities ]

additional expenditure or reduction in expenditure

additional expenditure or a reduction in expenditure | lower or higher expenditure

President Juncker underlined that Europeans need to spend their money on expense more wisely: “The US spends 500 billion Euro on defence, while Europeans spend 200 billion, but the efficiency of the European expenses is only 12 to 15%“.

Europe needs to raise its game with growth strategies to boost economic recovery and stay world class in high-tech sectors; to spend research budgets more effectively so that bright ideas are marketed and generate new growth; to kick-start ICT-led productivity to offset GDP stagnation as the labour force starts to shrink when the baby boomers retire [12]; to foster new, smarter, cleaner technologies that can help Europe achieve a factor four growth [13] and to use networking tools to rebuild trust in Europe as an open and democratic society.

Overall, for those that are more fiscally constrained and less efficient in spending, it is vital to get more impact with far reaching reforms and to be in the condition to increase investment wisely as their economies recover.

I do not really anticipate duplication because our efforts are designed to establish this process of continuous reallocation, shifting of expenditures from the lower to the higher priority areas, achieving changes in activities or programs to have smarter spending and greater efficiency.