EU rulebook promises faster digital company set-up

The European Union (EU) wants to spark more innovation and investment with a special new business rulebook billed as making it easier for companies to launch and thrive across Europe.

- 

The rules are set to be unveiled next week, and are part of intensified efforts to help firms in the EU compete against Chinese and American rivals.

It will be a voluntary regime the EU argues will allow companies to overcome fragmentation and barriers to business in the 27-country bloc - but some labour groups fear it could erode workers' rights.

“The goal is straightforward: to make it easier to start a business, scale it up and attract investment across Europe,” the EU's justice commissioner, Michael McGrath said in a statement.

McGrath is to announce the proposal next Wednesday, a day before EU leaders discuss how to make the bloc a more attractive place for business.