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The Single Market is dynamic and constantly evolving meaning that it will never be “complete”. It continues to change and adapt in response to new economic developments and rising to the current global challenges will be the EU’s core’s task for the future. The BIS publication
makes the case for a renewed commitment to strengthening and deepening the Single Market to equip it to meet new challenges and build its competitiveness capacity. The publication identifies targeted strategies for five areas that will be central to the EU’s competitive advantage:
• A low carbon business strategy to maximise business opportunity in the transition to a low-carbon economy, particularly through creating a transatlantic price for carbon, the development of green technologies, investment in low-carbon infrastructure and action to embed energy efficient measures.
• A post 2010 strategy for services to further improve market access and the business environment for service industries of commercial services.
• An advanced and high value added manufacturing strategy that takes a strategic approach to developing the EU’s manufacturing strength, including through the expansion of European Technology Platforms and more public-private partnerships.
• An EU life sciences strategy that encourages the emergence of centres of biotech excellence, a regulatory environment that supports the evolution of bioscience in the future, and new measures to develop bio-fuels.
• An action plan for an EU digital economy that invests in the infrastructure needed to encourage the universal take-up of digital technologies.
In terms of competition, there is a lot more that the EU can do together. If the EU wants strong companies that deliver jobs, higher wages and high profits, they need to compete effectively by being productive and innovative. This is why the UK has strongly supported the European Commission in its work towards a “proactive competition policy”. This is about using competition policy to make markets work – so they bring about productivity gains and innovation, rather than its more traditional role as a “policeman” of anti-competitive measures. This way, competition policy will further increase Europe’s competitiveness globally and promote long term economic growth.
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