The new European Commission has finally begun operations, following approval from the European parliament.
These first months are critical for understanding the perspectives of the commissioners and also for providing opportunities to give input. Given its wide range of expertise, the ICAEW will be seeking to engage on a number of fronts, but inevitably the initial focus will be on certain commissioners and their staff.
In particular, this is the case for the portfolios of internal market, held by Michel Barnier (France), taxation and customs union, audit and anti-fraud, held by Algirdas emeta (Lithuania), industry and entrepreneurship, held by Antonio Tajani (Italy), and climate action and environment, held respectively by Connie Hedegaard (Denmark) and Janez Potocnik (Slovenia).
Commissioner Barnier has already indicated the need to give new impetus to the single market, referencing also the mobility of professional qualifications. Not surprisingly he has also emphasised financial industry regulation. The ICAEW will be looking to engage in both areas, as well as on the specific areas of financial reporting, auditing, company law and corporate governance which also fall under his remit.
Commissioner emeta's exchange with the European parliament confirmed the interest in removing tax obstacles and unnecessary administrative burdens while also addressing green taxes - which he acknowledged as being extremely controversial. In the tax portfolio, however, most issues probably fall under that category, not least the common consolidated corporate tax base which will also be given a 'fresh look'.
As a statement of political intent, the existence of both a commissioner for climate change and a commissioner for the environment is quite powerful. It also underlines the amount of work to be done to achieve a Europe which genuinely sees opportunity and sustainability as two sides of the same coin, and to achieve a broader international commitment which does not leave Europe isolated. The link to industry and entrepreneurship is also evident: Commissioner Tajani has referred to a 'mutually convenient marriage' between industry and the environment and this will be part of his major challenges, in addition to that of ensuring SMEs are a central part of the economic recovery.
Dr Martin Manuzi is director of the ICAEW's EU office