European Commission 25% reporting reduction target one year on: no tangible improvement for businesses
Exactly one year on from the announcement by the European Commission President of a 25% reporting reduction target, feedback from the network of chambers of commerce and industry indicates that businesses have yet to perceive any improvement in the regulatory framework. Eurochambres reiterates the need to back up the increasing political focus on competitiveness with substantive measures to enable European businesses to drive growth and employment.
President von der Leyen’s March 2023 pledge to streamline reporting obligations was welcomed by the chamber network, representing millions of businesses across Europe grappling with burdensome reporting and administrative requirements. The subsequent lack of tangible progress on tackling the stockpile of reporting requirements is compounded by the wave of new legislative initiatives during the current EU legislative term.
Forthcoming high-level reports on the future of the single market and European competitiveness are eagerly awaited by the chamber network. But, with European elections and a new five-year EU term on the horizon, this encouraging high-level rhetoric will count for little if the mounting regulatory burden on businesses is not addressed.
"Handling increasing record-keeping and paperwork costs businesses valuable time and money that could otherwise be invested in growth and employment creation. That is why it is more important than ever that EU regulation is drafted, negotiated, and implemented with a light touch that allows entrepreneurs to focus more on their core business", said Eurochambres President, Vladimír Dlouhý.
Eurochambres submitted an extensive list of dossiers for the 25% reporting reduction exercise last year and remains committed to contribute to efforts to simplify reporting processes and eliminate disproportionate or redundant requirements. The European Commission must remain committed and engage with business organisations to strengthen competitiveness and create a more conducive environment for business success.
