By Daniel Hunter

The UK has welcomed the publication of Single Market Act II by the European Commission. The Act sets out a number of proposals to improve the way that the single market works and adapt the single market to new ways of doing business.

The new measures reflect months of negotiations and lobbying by the UK, and other like-minded member states, to ensure that unnecessary burdens are not placed on companies and barriers to trade are removed to open up the EU market.

Single Market Act II calls for: action to further develop transport and energy infrastructure across the EU; reforms to support the digital economy and promote the mobility of citizens and businesses across borders; and action to strengthen social entrepreneurship, cohesion and consumer confidence.

“The single market is good for British businesses and the UK has always been a champion of the single market," Vince Cable, Secretary of State for Business, Innovation and Skills said.

"It makes trade easier, gets us access to markets and is a significant market in itself for British companies. Single Market Act II will help improve the way the market functions, and bring it up to date.

“The UK has been closely involved in making sure that the Act brings forward the improvements needed, opening up new markets without placing additional burdens on European companies. The UK will continue to champion the single market and prioritise measures with the greatest potential to boost jobs and growth.”

Join us on
Follow @freshbusiness