EU businesses could save up to €40 billion a year in administrative costs out of their total annual burden of €360 billion, if the EU adopted proposals tabled by a European Commission advisory group.
"If we can relieve businesses to the tune of €40 billion, it's a sort of recovery programme," former Bavarian premier Edmund Stoiber, the head of the high-level group which issued the report on cutting administrative costs, said at a press conference on Friday (18 September).
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