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The free movement of goods, persons, services and capital is a fundamental principle of the European Union. It is these four freedoms as set out in the EC Treaty, which form the basis of the Single Market.
The Government believes that the single European market benefits the economy of each Member State, and that the removal of trade barriers leads to a reduction in business costs as well as increasing competition and stimulating efficiency, benefiting consumers and encouraging the creation of jobs and wealth.
The legislative framework of the Single Market was largely complete by the end of 1992. However, there is an ongoing process of improvement, which involves proper enforcement of the rules, making sure regulations are easy to understand and apply, and strengthening the Single Market in certain sectors.
The Lisbon European Council in March 2000 provided further impetus towards economic reform, highlighting the need to press ahead to enable Europe to compete effectively in the changing global market place.
For further information on the Four Freedoms, please see the related links panel for the Commissions Webpages on ‘Living and Working in the Single Market’
