"The EU has to rapidly bring the European economy back on track for growth with an ambitious and effective long-term competitiveness strategy. Our global competitiveness is under massive threat", BusinessEurope President Fredrik Persson said presenting BusinessEurope's annual Reform Barometer. Investment is increasingly pushed away from Europe. Foreign direct investment inflows to the EU fell by 66% in 2021 compared to 2019, contrasting with a 63% increase in the USA during the same period. The EU industry greatly suffers from deteriorating framework conditions in Europe. Our survey shows that European companies are facing the prospect of long-term energy price rises well above major competitors, as well as a more rapid increase of regulatory burden compared to them. Generous support for industry seen in other major regions, such as the U.S. Inflation Reduction Act, is acting as a significant pull factor to invest outside the EU. - Read moreor watch our video
Presenting BusinessEurope's action plan for more competitiveness and regulatory breathing space, Director General Markus J. Beyrer stated: "Swift action is needed now to make Europe the place to invest and do business again. The European business community calls on the EU to urgently change course. The EU needs to focus now on swift action to improve the business environment for European companies. Global competition for investments, employment, growth and technological innovation is decided by framework conditions, not by subsidies only. Policy-makers should not be fooled by a slightly brightening economic outlook and declining energy prices. Energy prices in Europe will remain higher than for our main competitors, corporate taxes are high by global standards. Current bankruptcy numbers and withdrawal of investment decisions all over Europe show that the risk of de-industrialisation is real." - Read more
"High energy costs and a heavy regulatory burden are two structural issues that weigh heavily on the competitiveness of European industry. It is positive that the European Commission increasingly recognises that successful companies are fundamental for a strong and competitive Europe. More work needs to be done to keep Europe a good place to invest and do business", said BusinessEurope Frederik Persson when meeting European Commission Vice-President Maroš Šefčovič. Besides the investment climate in the EU, the exchange of views also focused on the EU's relations with Switzerland and the UK. "Stable trade relations with our most important partners are also key for our competitiveness", our Director General Markus J. Beyrer added. Therefore, European business welcomes the announcement of an EU-UK deal on Northern Ireland. - Read more
The European Works Councils Directive, as recast in 2009, provides a good legal framework for the functioning of European works councils. It offers social partners at company level the space to negotiate agreements that suit their circumstances. "The European Commission should not buy into a revision of the EWCs Directive, as proposed by the European Parliament", BusinessEurope Director General Markus J. Beyrer said addressing Commissioner Schmit during a dedicated webinar. "This would be another negative example of an EU regulatory initiative deeply damaging business competitiveness, at odds with the growing recognition by the Member States and the Commission that improving our competitiveness is crucial for ensuring a prosperous Europe in the future. We propose that the Commission comes forward with a Commission recommendation and a code of practice to improve the functioning of European works councils", he added. - Read more
Two novel innovation waves are heading our way, according to the Global Innovation Index 2022: a Digital Age Wave and a Deep Science Wave. This workshop - organised by BusinessEurope and the World Intellectual Property Organisation (WIPO), and with participation of the European Commission,...
BusinessEurope is organising a forum on the European Commission’s proposed digitalisation of the VAT reporting system and the resulting impact on businesses’ operating models and day-to-day compliance. The event aims to give insights into VAT compliance processes and raise awareness on the...
