EESC Corner: Single Market Act II

During its July plenary, the European Economic and Social Committee adopted, among others, its opinion on key priorities that should be reflected in the Single Market Act II (SMA II) to be presented by the Commission in October this year.

The SMA II should be a follow-up to the SMA I from the last year defining twelve levers for re-launching the Single Market. In its opinion, the Committee called for basic payment accounts available to all citizens and for regulatory measures on transparency of fees and on easy switching of accounts. To relaunch the Single Market, the Committee proposed to use the potential of the digital market and in this respect to ensure the data protection, openness of the Internet, net neutrality, e-signature and e-payments and access to broadband. In the area of energy networks, the Committee calls on the Commission to examine why the energy market liberalization has not achieved the expected decrease in prices for consumers and businesses.

To create jobs and boost growth, the Committee recommends allowing better access of SMEs to finance. The SMEs should have the possibility to access capital markets and new mezzanine instruments should be created. Within the new operational programmes after 2013, the Member States should create guarantee schemes for SMEs. The Committee also proposed to adopt a standardized VAT declaration for the whole EU and to introduce schemes of cash accounting (VAT is paid only from paid invoices).

Last but not least, the Committee asked for a new reduction targets in cutting red tape after 2012.

Ivan Voleš
Member of the EESC – Group I, co-rapporteur on SMA II