Common market misnomer

 

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It certainly has a grand name but does it live up to it? They say that the EU’s common or single market creates one set of rules for business making it easy to do business and trade within the EU; the common market clears all that up nicely.

Well the first thing to notice is that these common rules don’t apply to all areas of business yet.

Secondly the common rules only cover some of the issues facing businesses.

For instance if a business wants to employ people across the EU, each member state has its own employment laws which might include things like minimum wage etc. So they already have to deal with several sets of different rules.

If a business wants to open a factory or a shop abroad then again in each state it has to figure out all the different rules for renting or buying or building property. Doubtless there are many other examples.

While it is true to say the common market makes it easier to do business and trade from a rules point of view, it is not true that it makes it easy.

So many businesses are already required to be expert in the complicated and different business of business in each state despite our expectations of the name Common Market.

Currently there are different rules everywhere and if we leave there will still be different rules everywhere. Business will cope.

Knickerbocker glory – oh it’s just an ice cream then.

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