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EU: EurActiv-'Competitiveness Compass' Calls For 'Unprecedented' Red-Tape Cut

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EurActiv reports "The European Commission will call for an “unprecedented” reduction of red tape to boost the bloc’s faltering economy over the coming five years, according to a draft of the EU executive’s much-vaunted Competitiveness Compass,". Following a delay to its announcement after Commission President Ursula von der Leyen suffered a severe bout of pneumonia early in the year, on Wednesday 29 Jan the Commission will demand the EU "simplify and accelerate" its notoriously cumbersome bureaucratic procedures and regulations in order to promote competitiveness on the global economic stage. 

  • EurActiv cites a Commission document it has seen, saying “Without an urgent shift in gear and approach, the EU’s future as an economic powerhouse, an investment destination and a manufacturing centre is at stake,”
  • In order to achieve this, the Compass "proposes “a closer alignment between the public and private sectors” to confront growing threats to EU digital and physical infrastructure, a “European preference” in bids for public contracts in strategically critical sectors, and a common EU “platform” to facilitate the joint purchase of critical raw materials."
  • The effort to bolster competitiveness for EU business comes at a time when Brussels and all member states are closely watching Washington, D.C., for signs of what tariff action US President Donald Trump could take against the Union. Speaking on 23 Jan, Trumpbemoaned EU regulation saying “You can’t compete when you can’t go through the approval process fast,” adding the EU treats the US “very badly, very unfairly,”.
  • For the latest on EU-US trade issues see 'MNI: EU Braces For US Green Opt-Outs, FTA Fallout-Officials', 24 Jan (contact sales@marketnews.com for access)
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EurActiv reports "The European Commission will call for an “unprecedented” reduction of red tape to boost the bloc’s faltering economy over the coming five years, according to a draft of the EU executive’s much-vaunted Competitiveness Compass,". Following a delay to its announcement after Commission President Ursula von der Leyen suffered a severe bout of pneumonia early in the year, on Wednesday 29 Jan the Commission will demand the EU "simplify and accelerate" its notoriously cumbersome bureaucratic procedures and regulations in order to promote competitiveness on the global economic stage. 

  • EurActiv cites a Commission document it has seen, saying “Without an urgent shift in gear and approach, the EU’s future as an economic powerhouse, an investment destination and a manufacturing centre is at stake,”
  • In order to achieve this, the Compass "proposes “a closer alignment between the public and private sectors” to confront growing threats to EU digital and physical infrastructure, a “European preference” in bids for public contracts in strategically critical sectors, and a common EU “platform” to facilitate the joint purchase of critical raw materials."
  • The effort to bolster competitiveness for EU business comes at a time when Brussels and all member states are closely watching Washington, D.C., for signs of what tariff action US President Donald Trump could take against the Union. Speaking on 23 Jan, Trumpbemoaned EU regulation saying “You can’t compete when you can’t go through the approval process fast,” adding the EU treats the US “very badly, very unfairly,”.
  • For the latest on EU-US trade issues see 'MNI: EU Braces For US Green Opt-Outs, FTA Fallout-Officials', 24 Jan (contact sales@marketnews.com for access)