Cut red tape and remove tax obstacles for SMEs says MEPs. The Small Business Act has received strong support leading up to its presentation by the Commission on 2nd July. This Small Business Act should be a legislative proposal which includes "new, concrete initiatives" to cut the red tape for SMEs. The proposal should also guarantee that SMEs have access to financial resources and to research infrastructure. The report also stresses that an EU-wide market for venture capital should urgently be established "by removing existing regulatory and tax obstacles to venture capital investments in Europe's most innovative small firms".

Other industrial topics from the Parliment

In an own-initiative report on industrial policy proposed adopted by the European Parliament, it was delcared that the EU's climate change and renewable energy goals should be seen as a chance for EU industries to become world leaders in sustainable technologies. Yet, a relocation of European industries to countries with less strict environmental policies should be avoided as well, stress MEPs. The report was adopted with 443 votes in favour, 62 against and 21 abstentions.

Avoid relocation of European industries, unemployment and 'carbon leakage':

They underline that the Commission's Action Plan for sustainable industrial policy, which it plans to put forward on 14 May, should facilitate the gradual transition towards a low carbon and energy- and resource-efficient industry. At the same time, the European Parliament stresses that unemployment and 'carbon leakage' should be avoided i.e. the EU's strict climate policy goals should not prompt companies to relocate their production to countries with a less strict climate policy which would lead to increased CO2 emissions by these countries and to higher unemployment in the EU. Thus, MEPs urge the Commission to set up global sectoral agreements which reduce the environmental impact of specific industries world0wide. As "the EU is completely dependent on imports of several metals", MEPs ask the Commission to propose integrated measures on how to guarantee sustainable access to raw materials.