Threat to business
Date published: 29 November 2011
An "outrageous" move by the EU to force companies to hand over €25,000 before they can set up business has been criticised by local MEP Paul Nuttall.
"This proposal will have a devastating effect on the creation of small businesses, a sector which employs almost half the UK workforce.
"They are already over-regulated and small and medium businesses face enough financial problems, with the reluctance of banks to lend, without more totally unnecessary EU interference.
"It is an outrageous proposal and our government must block this when it reaches the Council of Ministers," said Mr Nuttall, UKIP Deputy Leader.
"We need to be stimulating new businesses, not stifling such enterprise. In this country 99.3% have between 0 and 49 employees and 37% of UK turnover is generated by small firms.
"Out of the 4.3 million businesses in Britain 2.72 million are sole proprietors. SME's employ 12 million people, which is 58% of the private sector workforce and turnover totals £2,400 billion - just over half the UK GDP.
"And more than 60% if all commercial innovations come from small businesses.
"If I was not so used to EU madness and interference I would find this proposal, which follows a report authored by German MEP Klaus-Heiner Lehne, and passed by the European Parliament, unbelievable," said Mr Nuttall.
Do you have a story for us?
Let us know by emailing firstname.lastname@example.org
All contact will be treated in confidence.
Most Viewed News Stories
- 1Rochdale neighbours celebrate lottery win
- 2Former Westlife singer Brian McFadden covers costs of staging Christmas show raising money for...
- 3Estate plan for ‘world’s largest cotton mill’ site are set for approval
- 4Conservatives win Heywood & Middleton for first time
- 5‘100 per cent affordable’ homes plan for former pub site