If the European Union can make the transition to a circular economy, the benefits will be great. From 2030 onwards, €600 billion could be saved annually on primary material costs, €500 billion through lower costs for negative side-effects and €700 billion through other cost savings. These cost savings and new business models will increase gross national product by 11% by 2030 compared to the increase in following current practices (Ellen MacArthur Foundation, 2015b).