| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Press Release |
| Series Details | IP/08/1110 (07.07.08) |
| Publication Date | 07/07/2008 |
| Content Type | News |
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The European Commission adopted a Regulation, which will come into force in the coming weeks, giving automatic approval for a range of aid measures and so allowing Member States to grant such aid without first notifying the Commission. The Regulation authorised aid in favour of SMEs, research, innovation, regional development, training, employment and risk capital. The Regulation also authorised environmental protection aid, aid measures promoting entrepreneurship, such as aid for young innovative businesses, aid for newly created small businesses in assisted regions, and measures tackling problems like difficulties in access to finance, faced by female entrepreneurs. As well as encouraging Member States to focus their state resources on aid that will be of real benefit to job creation and Europe's competitiveness, the Regulation reduced the administrative burden for public authorities, the beneficiaries and the Commission. This new General Block Exemption Regulation (GBER) consolidated into one text and harmonised the rules previously existing in five separate Regulations, and enlarged the categories of state aid covered by the exemption. It will take effect 20 days after publication in the Official Journal, allowing Member States to grant better targeted aid immediately. |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/08/1110&format=HTML&aged=0&language=EN&guiLanguage=en |
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| Subject Categories | Internal Markets |
| Countries / Regions | Europe |
