On the public consultation on the procedural details of the EU foreign subsidies instrument
On the public consultation on the procedural details of the EU foreign subsidies instrument, BusinessEurope Director General Markus J. Beyrer says: “Keep administrative burden low for instrument to be effective”
- “BusinessEurope fully supports the foreign subsidies instrument. It has great potential to level the playing field on the Single Market. More clarity is needed now on how the EU wants to keep the administrative burden for companies and public authorities as low as possible.
- There is a risk of imposing excessive reporting requirements on companies while overwhelming the European Commission with irrelevant information. For the instrument to be effective, EU policy-makers need to specify the scope of foreign financial contributions more clearly in the implementing regulation. Financial contributions unlikely to be distortive need to be excluded from reporting requirements.”
Please find BusinessEurope’s full comments here.