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European Council

Does the Prime Minister recall that when the Lisbon agenda 2000 was first launched, it promised 3 per cent. annual growth in the European Union until 2010 and that red tape would be cut? The then Prime Minister said that it"““marks a sea change in European economic thinking…away from heavy-handed intervention and regulation””.—[Official Report, 27 March 2000; Vol. 347, c. 21.]" However, the European Commission itself now accepts that even though the single market increases European GDP by €225 billion, the burden of European regulation is €600 billion. Is that why the Lisbon agenda has to be relaunched time and again with the words:"““Launching the new cycle of the renewed Lisbon strategy””?"