The European Single Market is not just the world’s largest single market, it is also a guarantee for a successful future in Europe. The four Fundamental Freedoms of the internal market – freedom of circulation for persons, goods, services and capital – form the basis for the trading power of and in Europe, upon which its economic success is based. At the same time, the EU succeeded in strengthening identity and advance the European integration.
Nevertheless, national regulations remain that prevent European companies from using the full potential of the internal market.
OUR CHALLENGE: COMPLETE THE EUROPEAN INTERNAL MARKET
Only a completed single market in which common rules apply efficiently, and that brings both flexibility and legal certainty, can endure. The revision of existing regulations and their simplification must not only be politically demanded but must finally turn into concrete measures. So should the idea of a digital single market.
– Deepen the goods and services markets
The obstacles to the free movement of goods and services, the inadequate enforcement of existing rules, the low volume of cross-border public contracts and the lack of political support for structural reforms limit the possibilities of companies and citizens to benefit from the single market. Consequences of such limits are fewer jobs and unnecessary costs. The planned European Service Card and the mutual recognition of professional qualifications are important steps forward to remove such obstacles.
– Reform the EU VAT system
Cross-border companies currently have significantly higher costs for the regulatory compliance as domestic-only companies. This competitive disadvantage should be compensated by a reform of the VAT system. Such a reboot would improve the situation equally for governments and businesses. Only if the European Commission can make rapid progress here, companies can take advantage of the Single Market as a whole and compete on the global markets.
