This is a point I have made in more detail elsewhere, but even stripping out the contribution from housing – which has operated in both directions in recent years – we find moderate growth in the economy over the past couple of years, of the order of 2½ per cent.
We have to think in European dimensions in order to withstand global competition. Europe’s citizens need an alternative to existing platforms such as Facebook, Alibaba or Google, if only in order to protect their personal information. I therefore welcome the European Commission’s commitment to press ahead with its efforts to develop European solutions in the coming legislative period.