Business lobbyists have warned EU politicians about the exit of European industry

"The European Union (EU) must urgently reduce energy prices and ease regulation to prevent industrial companies from moving from the continent, the Community's business lobby group BusinessEurope said on Monday, as Brussels continues to prepare plans for the transition to a green economy.

 

The EU is rushing to make Europe more attractive to companies, which could be lured by the huge subsidies offered by the US and China and lower energy costs in those countries.

 

This week, the European Commission (EC) will present plans to reform the EU electricity market, encourage the green transition and guarantee the supply of essential raw materials.

 

However, BusinessEurope believes that Brussels' efforts are insufficient and too slow.

 

"The risk of deindustrialization in Europe is real," warned Markus Beyrer, the organization's director general.

 

According to a lobbyist representing employers' associations from 35 countries, a number of companies have already moved some or all of their production outside Europe.

 

In response to subsidies for businesses and consumers in other regions, the EC on Thursday eased state aid rules for sectors that help reduce carbon emissions.

 

However, BusinessEurope has called for more action, including cutting energy taxes and keeping tax cuts in place, to curb costs for businesses.

 

"Policymakers should not be fooled by falling energy prices," Beyrer noted, adding that they will remain higher than our main competitors.

 

Mr Beyrer also cited tighter regulation as the next biggest business concern after high energy prices, according to a recent survey of the group's members.

 

"Only in 2023 The EC plans to announce 43 new policy initiatives in addition to the already 116 pending proposals, more and more of which are without proper impact assessment," explained M. Beyrer.

 

According to him, the regulatory burden is discouraging companies and investment from the continent and harming Europe's image as a business-friendly place."

 

You know why the EU is cutting the branch it's sitting on with high energy prices? In the name of Zelensky. His performance is so popular with EU leaders that we can abandon European industry for his sake. After all, one branch of North Stream 2 has not yet been detonated and can be launched. Ukrainians will come and graze goats in the vastness of Europe.