“Despite the huge potential of our SMEs, Europe is lagging behind the US, Japan and South Korea in stimulating innovation and investment.”
These are the words of Patrizia Toia vice-chair of the EU parliament’s industry, research and energy committee.
So, those who say UK industry and entrepreneurial spirit will decline when we leave the EU need to think again – even one of their senior members recognises that the EU is stifling innovation and investment while the rest of the world moves ahead.
She goes on;
“According to the 2015 innovation union scoreboard, our competitors are ahead in terms of the share of research and development (R&D) in the private sector, as well as the number of public-private partnerships, patents registered and the proportion of the population having completed a tertiary education.
In other words, US, Japanese and South Korean companies invest more in research, collaborate more with public institutions for their R&D, and can rely on a more highly-trained workforce, than their European counterparts.”
Something UKIP has been saying for a long time – the EU is a sclerotic entity, a 70’s solution to a 50’s problem and not fit for purpose in a modern global economy.
The irony of this report though, is that Ms Toia sees the EU as the solution to the problems faced by SMEs when in fact it is the problem. She says;
“The EU also needs to create an environment that is conducive to innovation and actively support the SMEs that are the backbone of the European economy.”
Why is it then, that the EU continues to bombard business with red tape and regulation at a staggering rate?
Outside the EU, our UK SMEs will be free to breathe the air of global innovation and development unfettered by EU bureaucracy, and able to attract investment and talent into the UK and thrive in the global marketplace.