MEPs in the Budgets Committee have backed the first report outlining Parliament’s vision for the next long-term EU budget. In the report adopted on Wednesday by 23 votes in favour, 9 against and with 2 abstentions, MEPs emphasise the need for a significantly more ambitious long-term EU budget (multiannual financial framework – MFF) that can […]
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Council adopts regulation on financial benchmarks to ease burden on SMEs
The Council adopted on 24 March a regulation on financial benchmarks, which aims to cut red tape for EU companies, in particular for SMEs. Benchmarks are generally used by companies and investors in the EU as a reference in their financial instruments or contracts. This Regulation amends a 2016 Regulation as regards the scope of […]
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Savings and investments union: better financial opportunities for EU citizens and businesses
The Commission has adopted a new strategy to channel savings into productive investments. It seeks to increase EU citizens’ participation in capital markets with broader investment options and improved financial literacy, fostering their wealth and boosting the EU economy. About 70% of household savings in the EU – worth €10 trillion – are held as bank deposits. They are safe and […]
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Commission proposes to cut red tape and simplify business environment
The European Commission has adopted new proposals that will cut red tape and simplify EU rules for citizens and business. In the recent Competitiveness Compass, the Commission set out its vision to make the EU’s economy more prosperous and competitive, building on the recommendations of the Draghi report. To regain competitiveness and unleash growth, the EU needs to foster […]
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Towards an EU Startup and Scaleup Strategy
The Commission is developing a Startup and Scaleup Strategy in 2025. Why it’s needed, how to contribute, news and events. What the Commission is doing In 2025, the European Commission will adopt an EU Startup and Scaleup Strategy. The Commission has put startups, research and innovation among the key priorities of its mandate, with the goals […]
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Parliament green lights update of VAT rules to make them fit for digital times
The update will notably require that VAT be paid for services provided through online platforms, putting an end to an unfair distortion of competition. It will also fight VAT fraud. On Wednesday, Parliament’s plenary approved the changes to the rules that member states indicated in November they wished to make to the VAT Directive. MEPs […]
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Commission announces actions for safe and sustainable e-commerce imports
The Commission is taking action to tackle risks stemming from low-value imports sold via non-EU online retailers and marketplaces hosting non-EU traders. These actions are part of the Communication on E-Commerce, ‘A Comprehensive EU Toolbox for Safe and Sustainable E-commerce’, which the Commission is proposing today. The Commission encourages actions, among others, in the areas of […]
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What is the Competitiveness Compass?
A new framework to rekindle economic productivity and secure the EU’s competitive edge has been presented by the European Commission. The Competitiveness Compass builds on the recommendations set out in Mario Draghi’s report on the future of European competitiveness. It will steer the EU’s work on competitiveness over the next five years and translate the report’s recommendations […]
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Commission calls on Member States to review outbound investments and assess risks to economic security
The Commission published on the 15t a Recommendation calling on EU Member States to review outbound investments of their companies into non-EU countries. The Recommendation applies to three technology areas of strategic importance as well as the highest risk – semiconductors, artificial intelligence and quantum technologies – and calls on Member States to assess risks to economic security potentially […]
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