EU growth plan met with mixed reaction by the BRC

Dissecting the document, director general of the BRC Stephen Robertson remarked: “At a time when the Commission should be thinking big to cure Europe’s economic ills, this plan shows a disappointing lack of ambition.

“A genuine single market will play a significant part in achieving economic growth, but the reality is that some member states have not even implemented existing single market rules and still have barriers against retail investment by British firms. The Commission should be addressing this issue; instead its only specific reference to retail is a threat to regulate commercial relationships with suppliers.

“The plan talks vaguely about encouraging full implementation of the Services Directive, which would stop member states blocking foreign investment, but we need practical implementation on the ground and a fundamental change in the way grand strategies like this are followed through.”

Addressing the issue of cross-border interchange fees, which see retailers charged by banks for processing card payments by customers in EU state buying from another, Stephen said: “I’m pleased that the Commission intends to continue efforts to tackle these unjustified multilateral interchange fees.

“The decision to take legislative action before the middle of next year shows some progress towards a fairer payments system for European business and consumers, but it’s frustrating that meaningful action is still some way off. The Commission should take decisive action quickly – until this happens, retailers and consumers continue to suffer the cost of an anti-competitive payments system.”