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Remove red tape for SMEs, UK warns

Published on 26 Jan 2010 under category: legal

The government has said that European commissioners that increase the EU legislation 'burden' on businesses should be 'named and shamed'.

The warning comes ahead of the creation of the EU 2020 strategy, which is expected to rejuvenate European industry.

'Naming and shaming' would be one means of ensuring the dedication of commissioners to business growth, according to Gordon Brown.

In addition, the EU's Small and Medium-Sized Enterprises Envoy should hold directorate-generals to account for failing to uphold the 'Think Small First' pledge of the Small Business Act of 2008.

Mr Brown also believes that annual check-ups by the European Court of Auditors should be performed to make sure new legislation is effective.

Speaking at a meeting with the president of the European council, the prime minister called for an annual economic summit on regulatory reforms and more 'shock-resistant' legislation for banks.

In a document presented at the meeting which sets out the UK's angle, the government said: "It will be key to ensure that the right regulation is implemented in the right places, based on strong consultation and impact assessments: the unintended consequences of poorly-designed regulation may stifle growth through reduced lending to businesses."

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