The EU committee presented another Omnibus package in Brussels on Wednesday, this time for small and medium-sized companies (SMEs). To make Europe more competitive, Brussels wants to alleviate and reduce countless laws and regulations.
According to the new proposals, companies must save administrative costs of 400 million euros per year, for example by creating a new category for small and medium -sized companies.
So-called small mid-caps (SMC), which companies are with fewer than 750 employees and a turnover of a maximum of 150 million euros or a total active of 129 million euros per year, will benefit from benefits for SMEs in the future. According to the committee, these are around 38,000 European companies.
Debocratization as an economic booster
The new rules are intended to facilitate compliance with regulations and to release resources for growth and investments in the internal market. The Commission proposes exceptional regulations within the framework of the General Data Protection Regulation (GDPR) or for the prospectus regulations that are supposed to make an IPO easier.
The committee under Ursula von der Leyen has set itself the goal that the bureaucracy for companies should decrease around a quarter. The duty for small and medium -sized companies should decrease by 35 percent. Previous Omnibus packages influenced a shift in the Supply Chain Act with one year and the exception of 80 percent of EU companies of sustainability report and simplified environmental requirements and controls, as well as easier grants for farmers.
The EU wants to help here in the future
The European Commission presented its new internal market strategy on Wednesday. The strategy offers measures to reduce existing trade and investment obstacles within the EU, to support SMEs in expanding their activities and to relieve companies by promoting digitization.
According to the committee, services are the majority of the European economy, but they would stagnross -border. For this reason, a law for construction services and a new EU-Bezorg legislation should modernize the regulations, both in the construction sector and in the postal and package sector and cross-border services. The EU countries must be given the opportunity to free regulated business services from unnecessary regulations. The EU committee’s proposals must be negotiated and approved by the EU parliament and the EU countries.
Hattmannsdorfer wants to see tempo
Economic Minister Wolfgang Hattmannsdorfer (ÖVP) welcomes the project, but warns the pace of the implementation. If the internal market is further developed, “we strengthen Austria, we create jobs and protect our long-term welfare state. I therefore explicitly welcome that the EU committee proposes concrete steps for bureaucratisation and further development,” he writes in a broadcast.
“With its internal market strategy, the European commission sets the right priorities. Now it is important to quickly implement the course of the course announced by the eu to more competitiveness and location attractiveness. (…) Less. Less. Less. Less. Less. Less. Less. Less. Barriers in order to be able to ignite the necessary growth turbo and to be able to open again to our international competitors deputy secretary general of the austria chamber of commerce (WKö), Mariana Kühnel.
“The EU committee has started a process today that must now be continued consistently. Non-tariffs of trade laws on the internal market, sometimes such as rates in the goods area by around 44 percent, in the service sector, even with more than 100 percent.
Spö and Groenen are skeptical
“What the committee is planning here is dangerous. That small companies are not allowed to suffocate in bureaucracy. If you work with a few employees: inside and do not have your own legal department in the back, you need understandable and implementable rules instead of complex regulations. That is why small and medium -sized companies can already be bass with a company with a company.” On the other hand, Spö-EU MP Evelyn Regner criticizes in a broadcast.
“The approach to reducing bureaucracy is fundamentally good, but we must not forget the protective mechanisms we have fought in annoying negotiations for people and the environment,” said Green EU MP Lena Schilling. “The General Data Protection Regulation was a milestone for shaking this protective shield for our privacy, people who endangered the fundamental rights of people.” It is “really alarming” that the “committee also wants to water the responsibility of the companies when dealing with critical raw materials in batteries”.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
