The revival of Europe as a business location must be the EU’s top priority!
Vienna (OTS) – Over the last 30 years, the EU’s share of global GDP has changed significantly – it has declined significantly. While the EU once accounted for around 25% of WWGDP, this share is expected to fall to 15% in 2024 and even 13% in 2028. Instead of concentrating on innovative economic policy, the EU is pursuing a completely exaggerated climate policy that is simply driving the business location into the wall.
The European Commission recently updated its economic forecast – the result is catastrophic for Austria! Austria’s real gross domestic product per capita could not even be kept stable. According to the latest forecasts, at the end of 2024 it will fall almost 2% below the pre-crisis level of 2019.
However, it is the EU itself that has initiated the de-industrialization of Europe in recent years with outrageous and anti-business initiatives: With the so-called ‘Green Deal’, companies have to bear high costs for switching to climate-friendly technologies. This usually means necessary price increases, but this means you are no longer competitive on the global market. As a result, many companies are leaving the EU, which is particularly hard on small and medium-sized enterprises (SMEs) as suppliers. Value creation is shifting to other continents, which leads to loss of prosperity, declining quality of life and a threat to social systems in Europe/Austria. With the Supply Chain Due Diligence Act Every supplier within the EU must now know in detail about all components and processes and document them, even for complex products with many components. The penalties for non-compliance are enormous and are calculated based on sales. The implementation of the ESG criteria also requires companies to make significant investments, extensive reporting and therefore additional bureaucratic hurdles, which is particularly burdensome for SMEs. Investors may avoid industries that do not meet ESG criteria, making it difficult for these industries to raise capital.
In addition, the ECB’s monetary policy is causing massive murmurs in the European real economy. More than 10 steps to increase interest rates led to severe problems in the European economy, and necessary investments were postponed due to high interest rates.
The Austrian government, in turn, decides on EU measures in the European Council, the Commission and the EU Parliament and then claims in the Austrian media that it is powerless because this all comes from the EU. In addition, it often tightens the measures, which is known as ‘gold plating’. One example is the so-called climate neutrality, where Minister Gewessler loudly announced the EU’s target from 2050 to 2040. It is unimaginable how irresponsibly our Austrian business location is treated.
MEP Mag. Roman Haider and FW General Secretary Reinhard Langthaler outline the current petition to protect and restore Austria’s economy and those within the EU: “Our economy is suffering from oppressive EU over-regulation. The introduction of ESG criteria, the EU taxonomy, the deforestation regulation, the circular economy and the supply chain law has tied us into a corset of administrative constraints that stifles innovation and economic development, burdens us with unnecessary costs and presents us with unmanageable tasks. It is therefore time to initiate a turnaround in European economic policy! Our petition therefore demands:
- An immediate review and drastic simplification of existing EU regulations!
- A strong commitment to business-friendly policies that particularly take into account the needs of small and medium-sized companies. We want to ensure that the European economy is unleashed!
- The introduction of clear, pragmatic and flexible regulations that promote economic freedom and entrepreneurship!
All Austrians are cordially invited to support this petition!”
About the petition: Stop the bureaucracy madness
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