UK Pushes for Reform of the Single Market
The EU needs to be more dynamic, innovative and make urgent progress to reform the single market.
The UK Government believes that with an increasingly competitive global economy, the EU needs to reform the single market to make it work better for businesses and consumers.
With Europe’s share of global output forecast to halve over the next 15 years, Europe needs to take advantage of its position as the world’s largest trading bloc and do everything it can to make the single market work for all, be more competitive and deliver prosperity for its citizens.
New technologies are transforming how people in Europe live their lives and the development of the online economy now offers people more opportunity to buy, sell and communicate across borders. To benefit from the 90% growth generated outside of Europe, the EU must use the pull of the single market to conclude deals with major trading partners, which will boost its competitiveness. Events in Europe’s neighbourhood and the threat of climate change demonstrates the need for affordable and sustainable energy. And Europe’s financial systems must be stable to avoid further crises.
The EU needs to be more dynamic, innovative and make urgent progress to reform the single market.
The UK Government has outlined its views in this new document on how the single market can be improved and will be working to embed this reform in the EU’s agenda over the next five years.
Baroness Neville-Rolfe DBE CMG Parliamentary Under Secretary of State at the Department for Business, Innovation and Skills said:
I don’t think there’s a better time to talk about the EU’s future agenda for business.
From my time as President at Eurocommerce, I know that we are all facing stiff economic competition from all corners of the globe, and if collectively as Europeans we don’t shape up over the next five years, then Europe’s economic future will be put at real risk. The solution is doing everything we can to embed reform in the EU’s agenda and pulling out all the stops in making the single market work for all businesses in Europe.
I think that the EU has a key role to play in creating market conditions within which companies can be competitive, grow, and create jobs. But that means the Commission, the European Parliament, and national governments all realising their responsibilities to boost Europe’s competitiveness.
The UK wants to see real ambition from the EU and that’s why we’ve pulled together these ideas on how we can reform the single market. My colleagues and I will be discussing these reform ideas with MEPs, the Commission and Ministers from other government over the coming weeks and months to see how we can make urgent progress on these issues. We need to build up alliances for reform on the various issues.
I welcome what President-elect Juncker has said that his first priority is to strengthen Europe’s competitiveness. He’s talked about creating the right regulatory environment and promoting a climate of entrepreneurship and job creation. This is absolutely the right approach which will particularly benefit our vibrant Creative Industries and other sectors where intellectual property plays a key role.