EU: European Commission publishes Competitiveness Compass; NGOs criticise proposed plans for "steering Europe in the wrong direction"
"EU unveils plan to 'reignite' innovation in response to pressure from China, Trump," 29 January 2025
The EU outlined plans to simplify business regulations on Wednesday amid tariff threats from US President Donald Trump and concerns over China's ascent in the digital sector. Laws on corporate sustainability reporting and supply-chain standards will be streamlined to "reignite" EU innovation while meeting Green Deal goals, the bloc said.
Promising a "simplification shock", the EU unveiled a much-anticipated blueprint to revamp Europe's economic model...
"I want to be very clear: the European Union stays on course for the Green Deal objectives without any question," said the European Commission head...
Dozens of laws will be revised, with rules on environmental and human rights supply chain standards, reporting on corporate sustainability and chemical safety all facing a trim. A new category of mid-sized company will be created to reduce the regulatory burden for around 30,000 firms, according to the text.
A European legal regime, distinct from the 27 national jurisdictions, is to be set up to allow innovative companies to benefit from a single, harmonised set of rules on insolvency, labour law, and taxation...