On 31 March, the British Prime Minister David Cameron offered a blueprint for reforming Europe and drive growth across the continent in coming years. The new document officialises the positions made public last week during the European Council, which was primarily devoted to growth strategy. See Euractiv article. Experts may want to check the UK Government's new pamphlet Let's Choose Growth setting out why and how Europe should boost economic growth. It contains a warning that if current trends continue, by the middle of the century, leading EU nations could fall out of the world's top-10 most powerful economies. The proposals make the case for action on growth, deregulation and completing the single market. To secure sustainable growth Mr Cameron is calling for action to be taken to complete the Single Market, unlock the benefits of trade and reduce the costs of doing business (making it easier for all companies to start up, grow, invest and take on staff). This requires reducing the overall burden on business of EU regulation over the life of this Commission, ensuring that new burdens are offset by savings elsewhere and exempting small business from regulatory burdens. It costs €593 to set up a business in Brazil, €641 in India and €644 in the US, but it costs on average €2,285 to do so in Europe.
No comments:
Post a Comment