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On 29 January 2025, the Commission presented a 'competitiveness compass', an economic framework to guide its work in the coming years. Grounded in the key role of productivity in financing the EU's competitiveness ambitions, the compass is about simplifying legislation, pooling private and public investment in key technologies and mitigating foreign dependencies in order to unleash EU innovation. To this end, the Commission intends to issue up to 47 legislative and non-legislative proposals by the end of 2026. Members are expected to debate this initiative following a statement by the Commission during the February plenary session.