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Companies team for technologies
BRUSSELS, Jan. 26 (UPI) -- Sweeping reforms by the European Union's competition commissioner may help small businesses but hurt big ones, the Financial Times reported Wednesday.
Neelie Kroes, EU competition commissioner, outlined her agenda to increase the EU's competitive edge, namely by reforming state aid rules, which would shift subsidies from big ailing companies to small and mid-sized businesses.
"I am talking about less and better state aid, focusing on those regions that really need state aid ... focusing on risk capital, research and innovation and on small and medium-sized companies," said Kroes.
"Some regions will in the future not get the type of backing they did (in the past). We need to ask the question whether the poorer regions within a 'rich' country can go on (receiving state aid)," she added.
Countries like Germany, Britain and France could end up losing out if Kroes' state aid reform goes through. According to the latest figures available from 2002, $64 billion were injected into the EU to help subsidize companies.
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