Problems with the level of regulation have hampered the growth of the
European Union, according to ACCA.
Launching its European manifesto today, the association has claimed that some
member states have too much business regulation, while others have too little,
which has held back the expansion of the European Union.
ACCA chief executive Allen Blewitt said: ‘For Europe’s business community to
succeed against tough international competition, a consistent and fair tax
system is vital, along with certainty about regulation.
Regulation must protect the public interest but also enable the EU’s businesses
to compete and grow. Unless the balance is achieved, EU economies face continued
slow growth and slow job creation.’
The manifesto calls for a new seven-year EU budget, a better understanding of
the legislative requirements of EU membership, and a single set of
principles-based regulations, managed by each country’s national financial
regulators – to remove administrative burden.
It also calls for reform of local tax systems so they are ‘non-discriminatory
and compliant with EU law’.
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