An EU services directive worth a reported £5bn a year to the UK economy has been warmly welcomed by the UK government.
The directive heralds the liberalisation of the services industry throughout Europe, making it easier for services such as construction companies, advertising companies, estate agents, architects, plumbers, bakers and leisure services to operate throughout the EU.
It is hoped the directive will offer new opportunities for businesses, consumers and jobseekers, with small businesses likely to benefit most from the reduction of red tape.
Small and medium sized enterprises represent more than 90% of service providers.
Trade and industry minister Lord Sainsbury, said: “This is excellent news for UK businesses and consumers and will provide many job opportunities for skilled British workers. It has been a long time coming and I am pleased that the government's continuous support for this directive has now been rewarded.”
The services directive is an important step towards the EU functioning as a single market for the services sector.
The European Commission previously stated that the directive would create an extra 600,000 jobs and increase consumers’ choice.
It is believed that the directive is unlikely to become law before 2009.
