our industry is world's clausen high value sectors for instance making a 3rd of the world space satellites and our companies are at the cutting edge holding 40 percent of the world's renewable technology peyton's we should harness this transformation power of the twin digital and climate transition to strengthen our own industrial base and our innovation potential this can only be done through investment and honorable members we have to scale up for years we invest less in innovation than our competitors do this is a huge handicap to our competitiveness and our ability to lead this transformation . this is why we should not see the next multi annual financial framework as a simple accounting exercise but world 7 years ago looks nothing like the world in 7 years time i'll budget must be significantly modernized i know that in this field i can not only rely on the experience and skill of your highness homme but also on this argument but public budgets can only go so far we must make sure that investment can flow to where it is needed by completing the capital markets union. this will help im