Photo by Farah Almazouni on Unsplash
A major new report, which looks at the challenges faced by the industry and companies in the Single Market, has been given a guarded welcome.
The findings of the report on the Future of EU Competitiveness seeks to contribute to the Commission’s work on a new plan for Europe’s sustainable prosperity and competitiveness.
It was authored by former Italian Prime Minister Professor Mario Draghi, also a former ECB president.
Reaction on Monday was swift, with EC president Ursula von der Leyen saying, “To be competitive, we need to master the clean and digital transition. We set the basis for this, as you know, the clean and digital transition, in my first mandate.”
“Now it is time to see it through. We must support our industry to go through decarbonisation through innovation and turn this into a competitive advantage. This is why we need to act on all the principal levers that are at our disposal: bringing down energy prices; mobilising public and private investment; improving the business environment and cutting unnecessary red tape.”
The EPP Group said it has long championed the need for competitiveness to be the guiding principle of all European Union policies.
Andreas Schwab MEP, EPP Group spokesman on the single market, says: “The Draghi report rightly wants to shift our focus to innovation and wealth creation. We need to seriously reduce the regulatory burden on European companies, not the rules they must respect. He rightly calls for a significant cut in reporting obligations for SMEs and small mid-caps to restore competitiveness in sectors where Europe is particularly exposed to international competition. I am satisfied that he confirms many of the demands that the EPP Group has been making for a long time.”
“It is not surprising that Draghi recognises that the fragmentation of the single market along national lines is the main obstacle to the growth of innovative companies.”
“We must tackle these serious disincentives for innovators and investors, especially in the technology sector. Only with a fully completed single market in the areas that matter to innovative companies will the EU find its own way to compete on the global stage.”
Further MEP reaction to the report came from Christian Ehler, who noted: “I welcome the presentation of Mario Draghi’s report. It is a wake-up call to policymakers both in the Member States and in Brussels: we need to take swift and significant action on EU competitiveness.”
“We need to create a business case for the European industry and finally turn our path to decarbonisation into a competitive advantage for European companies.”
“The Draghi report identifies many challenges and provides concrete pathways to solutions, all of which require common European ambition and action. As the EPP Group, we have long been calling for many of these proposals. This report mustn’t get lost in the drawers of Brussels bureaucrats: national capitals and EU policymakers must harness the common ambition to rise to the challenges of our time.”
The EPP Group will follow up on the report and has suggested inviting Mr Draghi to the next plenary session of the European Parliament to debate his report.”
Welcoming the report, BusinessEurope President Fredrik Persson told this site, “We welcome the release of this comprehensive report and extend our gratitude to Professor Draghi and his team for the extensive work. The report will undoubtedly play a critical role in shaping future EU strategies and policies.”
“A stark and alarming conclusion of the report is that the European Union is lagging behind its global competitors – a reality that European companies experience daily.
“We fully endorse the call for a frank and urgent discussion on the disruptive measures the EU must adopt to regain its competitive edge. BusinessEurope has long advocated for a reboot in EU policies as we enter the next institutional cycle.”
“We will pay close attention to the call for a renewed industrial strategy, which rightly prioritises measures like incentivising productive investments in Europe, lowering energy costs or reducing regulatory burdens on companies. Market forces should be at the core of such a strategy, rather than excessive public intervention.We will conduct a thorough review of the report’s recommendations.”
