|Andrea Leadsom MP with members of Fresh Start Project|
It was consensus that reforms are needed, especially in light of overregulated EU procedures. Repatriation of social and labour market regulations would significantly strengthen competetiveness especially of countries hit most by the recent financial crisis. Rather than regulating markets within the EU, the EU should focus on competetiveness, growth and negotiations on free trade agreements with non-EU trading partners such as the US, Canada and Japan.
Financial services could be a key sector for growth, as high demand is seen for insurance and other financial products in non EU markets. The planned EU Financial Transaction Tax would be extremely negative for the competetiveness of the financial services sector.
The Fresh Start Project was set up to research and propose a new relationship for the UK within the EU that would better meet the interests and aspirations of the UK and other member states and citizens in the EU. It proposes reforms in many areas of EU common policies. For details, please see also www.eufreshstart.org.