Europe is dominating the news at the moment due to the uncertainty of how the situation with Greece will be resolved. Commenting in the wake of the Greek referendum, which saw voters reject creditors’ bailout terms, Caroline Williams CEO Norfolk Chamber of Commerce said:
“Beyond its immediate impacts on markets and trade, it looks ever more likely that the Greek referendum vote will spark fundamental changes in the Eurozone – and the European Union as a whole.
“The Prime Minister may get an early, and important, opportunity to put the case for fundamental reform of the UK’s relationship with the EU. Businesses will want him to seize this opening, especially as many of the UK’s desired reforms would support the competitiveness of the EU as a whole.”
“There is now broad agreement across the political spectrum that our relationship with the EU needs to change and that the status quo is not an option. Norfolk businesses would like their voice included in the debate, to help the government secure meaningful changes to our relationship with the EU.”
There are five key elements that Norfolk Chamber wants to focus on relating to EU reform:
- In a Europe in which the decisions will be made by and for the Eurozone – a club of which we will never be a member – Britain must have absolute guarantees to protect our economic and other interests within the EU.
- We need to protect our businesses from the regulatory burdens imposed by the EU, particularly those that do not relate directly to trade, again with an opt-out if necessary. The vast majority of the UK’s economic activity is not directly derived from trade with the rest of the European Union – and yet all of that activity is hit by the cost of European regulation.
- It is necessary to sort out the “common market” so that it works for British business. The UK is by and large a service sector economy and yet there is no meaningful internal market in services within the EU and, at the same time, the market in goods is imperfect and unravelling.
- We need a clear and balanced approach to immigration taking into account the need for stability and social cohesion and driven by the skills requirements of our economy, meaning businesses can access the talent they need.
- We need a cast iron opt-out to make sure we do not sleepwalk into an ‘ever closer union’.
If you have an opinion on this issue or would like to give examples of how the current situation with the EU is adversely affecting your business please advise [email protected]
