The European Parliament’s Legal Affairs Committee looks at much of the EU's regulatory environment and deals with key principles such as subsidiarity and proportionality.
ECR MEPs have been at the forefront of developments to improve the way in which the EU develops, scrutinises and implements law. Under improvements pioneered and delivered by ECR MEPs in the European Parliament, the European Commission must now exempt small businesses from proposals, where possible. ECR MEPs have cut administrative burdens resulting from European legislation by 25%, and are now pressing for even greater cuts to regulatory burdens as a whole. Looking ahead, the ECR will strive for a competitiveness test to be introduced so that all legislation must now demonstrate its contribution to competitiveness.
The ECR has been leading on legislation to improve transparency for shareholders and investors seeking information about the way Europe’s largest companies work. By positively changing the rules governing the accounting and auditing practices for European companies, ECR MEPs struck an important balance between reducing costs and retaining competitiveness for European companies while improving corporate governance across the EU. ECR MEPs will now turn their attention to shareholder rights and reducing obstacles for single member companies to set up in other EU Member States.
Leading reforms to the European regulatory environment and reducing red tape to promote smart, efficient and effective regulation, which is proportionate, respects subsidiarity and is properly impact assessed. A competitive and efficient business environment in the EU is essential to generate growth, jobs and cross-border trade in the EU single market and also to attract investment and capitalise on potential future and China trade deals.