EU to appoint envoy to ease red tape for small, medium businesses

European Commission President Ursula von der Leyen said on Wednesday she would appoint an envoy to help small and medium-sized enterprises handle red tape to make it easier to do business. "For every new piece of legislation we conduct a competitiveness check by an independent board," she said in her annual State of the European Union address.

"And next month, we will make the first legislative proposals towards reducing reporting obligations at the European level by 25%." Companies across the bloc have repeatedly said the EU risks losing out on innovation owing to its complex legislation, particularly for the energy transition.