The European Council is today expected to give the green light to Europe's first serious attempt to reduce bureaucracy, according to the Daily Telegraph .
The European Commission believes the plan to cut unnecessary European red tape by 25% by 2012 would save business at least €150bn (£102bn) a year. The exercise will be driven by the commission's vice president Gunter Verheugen, who is in charge of enterprise and industry. He has already set out 13 priority areas for reform, including changes to company and tax law and the rules on pharmaceuticals, food safety and transport. The British Chambers of Commerce welcomed the initiative as it said EU legislation was an "enormous burden on UK business", says the paper. It estimated almost th...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes