“Rejoining EU Single Market only sensible route for UK,”says Scotland’s European Movement Chair
The three arms of the European Union have agreed a timetable towards making the European Single Market more globally competitive. By the end of 2027, the EU aims to have in place legislation that will benefit key economic sectors. They include digital technologies, financial services and supporting the growth of EU city regions. The initiative seeks to reduce bureaucracy and costs for business and stimulate economic growth.
Known as a “roadmap” the agreement to accelerate the reform of the Single Market was announced on 24th April. It followed a meeting between senior representatives of the European Parliament, the Council of Ministers and the European Commission.
The plan is based on the 2024 report on the EU’s competitiveness by former Italian prime Minister Mario Draghi. Donald Trump’s “America First” policies, the almost total US monopoly of digital communications, the wars in Ukraine and the Gulf and the rise of China’s as a global economic superpower status has driven the EU to accelerate its plans to counter the threats of the new world order.
Chair of the European Movement in Scotland, David Clarke, says: “The world has dramatically changed. The EU is responding with bold ideas and a united sense of purpose.
“The UK can opt to watch from the sidelines as Europe rises to the economic challenges of our time, or it can choose to re-engage by joining the European Single Market. We can join our friends and neighbours and fight our corner, or we can be outsiders at the mercy of the USA, China and Russia. Rejoining the Single Market is the only sensible route for the UK.”
Roberta Metsola, President of the European Parliament said: “This Roadmap reflects what the European Parliament has been calling for: a stronger, more competitive and resilient Europe.
“It is ambitious, it strengthens our capacity to withstand shocks, and it provides predictability to our citizens and businesses. We said we would take bold decisions and we are doing it. This is Europe responding to what it needs.”
Among the key actions are:
- Cutting duplicated regulation and inconsistencies in the application of rules. A main ambition here is to help European businesses scale up and be global competitive, most notably in the digital sphere.
- Energy market integration, including investment grid in cross-border grid connections.
- A savings and investment union, so that the financial services sector has a bigger market, consumers have more choice and there is a more competitive market for business borrowers.
- Allowing city regions more say on how EU funds are spent in their localities, particularly in infrastructure, energy and transport.
