The European Commission announced plans in November 2006 to reduce the administrative burden on businesses across the bloc by 25 percent before 2012, projecting that streamlined rules could add 1.5 percent to the EU's gross domestic product and generate roughly 150 billion euros (191 billion dollars) in new investment and jobs.
The commission said it intended to cancel 10 pending bills that had been scheduled for adoption in 2007, building on the withdrawal of 68 proposed laws earlier that year. Through 2009, an additional 43 measures would be simplified, covering sectors such as agriculture, cosmetics, construction products, and industrial emissions.
Officials cautioned that hitting the 25 percent target would require member states to develop their own plans for easing the regulatory load on companies. National governments were expected to be asked to endorse the initiative the following spring.
Commission President José Manuel Barroso framed the effort as creating a regulatory environment that meets citizens' needs without imposing unnecessary administrative costs. The initiative was part of a broader push to accelerate the bloc's sluggish economic growth and attract greater investment.
Historical summary. TurkishPress restated this wire report, first published in November 2006, in its own words.