To complement these three pillars, the competitiveness compass introduces five horizontal enablers to increase our competitiveness across all sectors:
Cutting red tape
The omnibus proposals will simplify EU sustainability reporting obligations to create a favourable business environment where European companies can thrive.
Removing barriers in the single market
The horizontal single market strategy will modernise the single market’s rules, removing barriers and preventing the creation of new ones.
Enabling more efficient financing
The savings and investments union will create new savings and investment products, provide incentives for risk capital, and ensure investments flow seamlessly across the EU.
Promoting skills and quality jobs
The union of skills will ensure high quality education, training and lifelong learning to fill the skills and labour gaps that are holding us back.
Ensuring better coordination
The competitiveness coordination tool will ensure implementation at EU and national level of shared EU policy objectives. It will be supported by the competitiveness fund, which replaces multiple existing EU financial instruments with similar objectives.