The government is urging UK business to get more directly involved in shaping EU policy in the key area of corporate law and governance.
The call came as trade and industry minister Gerry Sutcliffe launched a guide called Promoting Competitiveness: The UK Approach To EU Company Law And Corporate Governance.
The guide, backed by the Institute of Directors, CBI, and other employer groups, encourages business to take an active role in the debate by engaging with the European Commission, European Parliament, other member states and EU business organisations.
Sutcliffe said: “What we – the government, business and investors – want is an action plan that reduces the cost of capital to companies and encourages investment flows within, and into, the EU market. [This will] enable companies to organise themselves effectively and will give shareholders the ability to exercise their rights and hold directors to account for corporate performance.”
Miles Templeman, director general of the Institute of Directors, said: “This guide demonstrates the UK government’s commitment both to the importance of sound capital markets and to involving business in the development of EU policy and legislation.
“I hope that this publication will encourage the business world to be involved and help the voice of business to be heard.”
CBI director general, Sir Digby Jones, said: “It is important for UK companies to engage now in Europe – to take ownership of the EU agenda and to ensure that the outcomes reflect real business needs and the UK system, which is a proven winner.
“But to achieve those outcomes for business, companies need to engage more.”