The Government set out its agenda for the six-month Presidency focusing on the key areas of competitiveness, values and security.
Last December, the Institute made a submission to the Department of Foreign Affairs and Trade on what an Irish Presidency should focus on with regulatory simplification and competitiveness placed front and centre.
The Institute, therefore, welcomes the clear priority placed on competitiveness by the Government and is encouraged that there is particular focus on progressing the EU Inc. proposals as well as the Savings and Investment Union during the Presidency.
In March, the EU Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection, Michael McGrath launched
EU Inc., a new optional European wide company framework designed to make it easier for companies to be established and scale up in the European Union (EU).
As
outlined previously, the Institute described the EU Inc. proposals as representing a major opportunity for Irish SMEs to scale and compete more easily across the Single Market.
Coupled with EU Inc. Irish businesses need access to finance to grow and scale and currently Europe’s capital markets are fragmented and disjointed. That is why it is important that both the Savings and Investment Union and EU Inc. proposals are ratified as soon as possible and the priority placed on them by the Government is to be welcomed.
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