Cut red tape for local Monaghan businesses

Local businesses are struggling under the amount of red tape which must be cut dramatically in order for them to survive, according to MEP Candidate for the North West, Paschal Mooney.

The impact of the current global recession on Small to Medium Size industries was made very clear to the European Candidate while on the campaign trail in Monaghan recently.

Mr Mooney believes that reducing the amount of red tape will have an immediate knock-on benefit for local businesses - who are already struggling with the exodus of shoppers across the border.

"It is the Small and Medium size enterprises which are suffering the most in the current economic climate," said Mr Mooney.

"I have spoken to several business owners in Monaghan recently who have had to let staff go, as they are unable to compete and are caught up in a wealth of red tape.

"We have reached a crisis point and there is a lot that can be done at European level to put initiatives in place to protect local enterprise.

"Over the next three years, the EU plans to cut red tape for SME's by 25%.

"This will go a long way towards reducing the amount of overregulation in this sector.

"All unnecessary business costs at European level must be eliminated and, if elected, I will fight for this to proceed.

"Already the European Commission has brought forward proposals to abolish financial reporting obligations for the smallest companies in Europe.

"These new rules will lighten the regulation which applies to small businesses.

"This is just one way where we can find European answers to local concerns," he said.

Mr Mooney would like to thank all those who came out to support him on the campaign trail in Monaghan.