The European Commission has unveiled a plan to streamline regulations for businesses, loosen state aid rules, and prioritize European bidders for public contracts. This initiative aims to revitalize the EU economy and prevent further lagging behind in global competition. The commission emphasizes a reduction in administrative burdens, increased support for European companies developing artificial intelligence and clean technologies, and a simplified state aid regime to encourage investment.
European Commission president Ursula von der Leyen: 'We have a very clear signal from the European business sector that there is too much complexity.' Photograph: EPAhas announced plans to cut red tape on businesses, loosen state aid rules and give preference to European bidders on certain public contracts, in an effort to make
The days of European manufacturers being able to rely on cheap labour from China and cheap energy from Russia were gone, Dr von der Leyen said. The state aid proposals are likely to raise eyebrows in Dublin, where the Government has traditionally opposed EU states being allowed to offer generous subsidies to companies, for fear Ireland would lose out to those with deeper pockets such as France and Germany.
A recast “Savings and Investments Union” would harmonise laws across the bloc and lower hurdles facing start-ups and firms trying to raise private capital across borders.
EU REGULATION STATE AID BUSINESS GROWTH EUROPEAN ECONOMY ARTIFICIAL INTELLIGENCE
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