Minister Michael McGrath
Minister Michael McGrath
EU Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection
Competitiveness is the watchword of this European Commission mandate. Collectively we recognise that simplifying regulation and reducing the administrative burden for businesses is critical to improving the economic growth environment in the EU.
Our aim is to streamline our legislative framework without compromising on our core values of social fairness and sustainability, ensuring Europe is a powerhouse of innovation and opportunity on the global stage.
We have set out in the Competitiveness Compass how we will close the innovation gap with the US and China as well as increasing our economic security and reducing dependencies, such as in critical raw materials.
This is complemented by the Clean Industrial Deal, an integrated plan for decarbonisation and competitiveness outlining how we will deliver on our ambition to become the first climate-neutral continent by 2050.
And we have signalled our intention to put forward a series of Omnibus proposals. This packaged approach will allow us to simultaneously address multiple areas where overlapping, redundant or inefficient rules are creating barriers for businesses.
All of these will initiatives are designed to ensure a thriving business environment in Europe, from which Ireland will be well placed to benefit.
In my own portfolio, I am working on a proposal for a “28th regime” for companies. This means one set of rules, which companies would be able to use across the EU.
Considerable progress has already been achieved to date in EU corporate law. Companies can be set up online. They can carry out corporate restructuring operations across the EU based on a single set of rules. And we have developed the new EU Company Certificate which is essentially a European corporate identity card.
With the 28th regime, I intend to further build on these initiatives delivering a single EU wide company legal form which will reduce the barriers to growth for companies. As we develop the proposal the most important voice to hear is that of the business community – in particular SMEs and innovative companies - and other stakeholders and we will consult widely in this regard.
A united Europe is a powerful force for good in the world. We have a skilled work force, a huge single market of 450 million people and a social infrastructure to be proud of.
We have weathered the storms of the last 5 years from Covid to the cost of living and energy crisis.
Now is a time of great opportunity in the world and we are taking the action necessary to ensure Europe succeeds.
Our aim is to streamline our legislative framework without compromising on our core values of social fairness and sustainability, ensuring Europe is a powerhouse of innovation and opportunity on the global stage.