The European Parliament approved the European Globalisation Adjustment Fund.

The renewed European Globalisation Adjustment Fund will allow more European workers to access financial support from the fund. The European Globalisation Adjustment Fund provides support to people losing their jobs as a result of major structural changes in world trade patterns due to globalisation, e.g. when a large company shuts down or production is moved outside the EU, or as a result of the global economic and financial crisis.

The text adopted, includes improvements secured by the European Parliament negotiating team during the talks with Council in December:

  • MEPs lowered the threshold for applications for support, from 500 jobs lost down to 200;
  • People will be able to apply for a one-time investment of €22 000 to start their own business or for employee take-overs (MEPs increased this amount by €2 000);
  • Special measures such as a childcare allowance for child carers to access when taking part in training or looking for a job. This allowance will be managed by member states, which would enable them to efficiently address the needs on the ground.

For more information, please visit the Commission’s website.

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