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Wednesday, July 23, 2014 11:18 PM


EU "Red Tape Hell"; Dust Settles on Appointment of Juncker; Time for an Up-Down Vote


Jean Claude Juncker (Mr. "Lie When It's Serious") is already accused of sending the UK down the drain.

Please consider British firms fear red tape hell as EU orders equality and green energy reports.

British companies will be forced to publish details of their environmental impact and efforts to improve “gender equality” under a diktat from Brussels.

Bureaucrats want all large firms in the European Union to include details of their policies on “environment, diversity and human rights” in their annual financial statements, it emerged last night.

The “corporate governance” directive has been drawn up by EU internal market commissioner Michel Barnier, a close ally of new European Commission president Jean-Claude Juncker.

Under the plan, any company with 500-plus employees will be expected to make an annual “corporate social responsibility statement”.

Simon Rose, of the anti-Brussels campaign group Get Britain Out, said: “The dust has only just begun to settle on Juncker’s appointment and already we have a proposal to burden British business. It’s just another example of excessive Brussels interference.”

The campaign group claims each firm hit by the Brussels legislation will face an extra £4,000 a year in administration costs.

The directive requires firms to detail any “current and foreseeable” impact from their business on the environment, including “health and safety, the use of renewable and non-renewable energy, greenhouse gas emissions...and air pollution”.

They will also have to list action taken to ensure gender balance in the workforce, respect for workers’ rights and talks with trade unions.

Firms will be expected to outline their “diversity policy” in employing and promoting staff of different ages, genders and “educational and professional backgrounds”. They should also “include information on the prevention of human rights abuses and instruments in place in order to fight corruption”.
Only £4,000?

If this absurd ruling only costs £4,000 ($6814 at current rates) I will be amazed. Regardless, there is no indication madness will stop there.

  • What about financial transaction costs?
  • What about nonsensical UK subsidies for French farmers?
  • What about inane energy rulings?

The list is actually endless.

Does Cameron Have Any Credibility Remaining?

UK Prime minister David Cameron staked his credibility on a pledge to stop Juncker from becoming the next European Commission president. In doing so, Cameron made a fool out of himself.

German Chancellor Angela Merkel dumped Cameron like a hot potato once political winds shifted in Germany. (see Merkel Tosses Cameron Like Hot Potato; Cameron to Go Down in Flames Over Juncker).

Time for an Up-Down Vote

If Cameron had the same political sense as Merkel, he would put the up-down decision on UK membership in the EU to a vote right now. And if UK voters had any common sense, they would reject membership.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

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