Cameron calls for change of direction
Europe could be left behind if urgent action is not taken to secure long-term sustainable growth, the UK Prime Minister David Cameron has said.
He said collective action was required to "unleash the forces of enterprise across our continent, to advance exports and trade, to lift the burdens on business and to drive fresh innovation in what is the world's largest economic block". Warning against complacency, Cameron added: "There is a real risk that if we don't work together Europe could be left behind. But it doesn't have to be like this, Europe can change, to create jobs, to create wealth and to compete in a global marketplace."
He has called for Europe to complete the single market, open up new markets by reducing trade barriers, cut the regulatory burden on businesses and encourage innovation. Along with eight other EU leaders Cameron wrote to the President of the European Council Herman Van Rompuy and the President of the Commission JosÚ Manuel Barroso on March 18 advocating a change in direction for Europe's economic policy.
The UK government today published a pamphlet, Let's Choose Growth, setting out these priorities. It claims that 5.2 million jobs could be created by opening up the EU to new markets, while completing the single market would increase average household incomes by €1,000. It says that the costs of starting a business in Europe are higher than in the United States, India, Brazil and Canada and only 6 per cent of innovative companies formed since 1975 are European.