Change of strategy

EU now wants to declare war on bureaucracy

Symbolic image

(Bild: stock.adobe.com)

In a draft of its forthcoming economic policy, the EU Commission promises to take vigorous action against bureaucracy. The authority will make an unprecedented effort for more simplification, according to a draft strategy paper.

The anti-bureaucracy plan is to be officially presented next week. The paper is available to the German Press Agency in Brussels. The first step should come next month and includes simplifications in the areas of reporting on sustainable finance and due diligence obligations.

This could, for example, involve the European Supply Chain Act, which aims to make large companies responsible for human rights violations in their supply chains. The online portal "Euractiv" and "Handelsblatt", among others, had previously reported on the draft of the so-called Competition Compass.

EU should continue to become climate neutral
In the 20-page document, the Commission outlines its priorities for the next two years. In addition to reducing bureaucracy, the aim is to promote investment in future technologies such as artificial intelligence (AI), provide greater support for climate-friendly technologies and reduce energy prices. The Commission also emphasizes in the draft that it wants to maintain the EU's goal of becoming climate-neutral by 2050.

A new competitiveness check is also to take a closer look at new initiatives. The aim is to assess the expected impact of EU projects on cost differences compared to other international competitors.

The EU is currently facing competition from China and the USA in particular. Companies there currently have advantages, for example with regard to higher energy prices in Europe.