BusinessEurope has called for a comprehensive reduction in the regulatory burden faced by companies operating within the European Union. According to Markus J. Beyrer, Director General of BusinessEurope, "With over 60% of companies citing regulation as a barrier to investment, businesses operating in Europe urgently need a bold signal that the EU is serious about cutting unnecessary red tape."
The organization has expressed support for the EU institutions' renewed focus on competitiveness and reducing regulatory burdens. Specifically, they endorse the "Omnibus" approach aimed at streamlining EU legislation on reporting requirements, which is expected to be presented in February. BusinessEurope is hopeful that this initiative will lead to more impactful measures.
However, Beyrer emphasized that regulatory challenges extend beyond just reporting obligations. He stated, "This is why we are calling for an overall EU regulatory burden reduction target, with a dedicated programme to achieve it within clear deadlines." To address these issues, BusinessEurope has outlined 68 specific actions intended to reduce administrative burdens, excessive compliance costs, and cross-border regulatory barriers within the Single Market.
For further details on BusinessEurope's proposals, readers are encouraged to review their full recommendations.