Dr Charles Tannock

Member of the European Parliament for London

Governance of the single market

Delivered in Plenary - 7th February 2013

Mr President

For the British Conservatives the Single Market is the backbone of the European Union. As such it is integral to the existence of the Union, offering 500 million people in the worldís largest economic bloc the right to trade freely and competitively. Against the backdrop of the financial crisis a strong comprehensive Single Market is required now more than ever and can only be achieved through a framework of strong governance and leadership.

But let us be clear. The Single Market is an economic concept; it is not intended to deal with social issues. Although they are important topics to monitor and address, matters of welfare and social security lie outside the remit of the Single Marketís ultimate goal of promoting economic growth and full employment. What the Single Market needs now is better and more structured governance with a commitment to less bureaucratic red tape and a strong economy. Such an enhancement will benefit all the EUís Member States.