Press Release: Cutting down red tape for EU contracts and grants

The European Commission on 12 October 2005 proposed significant simplifications to the administrative burden for companies, SMEs and beneficiaries of EU grants. The proposed measures were aimed at maintaining a high level of protection of the community funds and were thought to bring procedural requirements in line with the risks and stakes involved. Particular attention was given to small organisations and projects: the smaller the amounts and risks, the easier and quicker the access to EU funding would be. The new rules were expected to be in place by 2007, in time to allow the smooth functioning of a new generation of EU-funded programmes.