I would like to begin by providing some broader context for today's proposals on the Digital Omnibus.
Earlier this week, I presented the European Commission's Autumn Economic Forecast.
It makes clear that the challenging external environment means that Europe's future growth will be fuelled in large part by domestic drivers.
No one else is going to do it for us.
This means taking the initiative.
To unlock Europe's full growth potential, and secure our long-term prosperity, we must redouble our efforts to implement the Competitiveness Compass.
The Draghi Report, which underpins the Compass, emphasises the importance of simplification when it comes to digital regulation.
Indeed, the Competitiveness Compass has cutting red tape at its core.
That's why we have set a target to reduce administrative costs by 25% for all companies, and by 35% for SMEs.
We have made a strong start to delivering our simplification agenda.
And we will continue to present simplification proposals throughout the Commission's current mandate.
However, for businesses to feel the end results, the proposals have to be approved by the co-legislators.
So, we will continue to work with the European Parliament and Council to make swift progress on the passage of this legislation.
The Draghi Report also emphasised the fundamental importance of closing the innovation gap in the emerging technologies that will drive future growth.
And this proposal responds to what we have learned through our engagement with stakeholders.
As Executive Vice-President Virkkunen has already explained, it will update and combine several existing digital laws that have grown complex over time.
It focuses on three main areas:
- Making data rules easier to understand and use.
- Simplifying how companies report cybersecurity incidents.
- Helping with the smooth rollout of the new Artificial Intelligence Act.
Moreover, we continue extending benefits enjoyed by SMEs to Small Mid Cap companies, this time under the AI Act.
In doing so, we are delivering on our commitment in the Single Market Strategy and actions under our fourth Omnibus package further to enable also Small Mid Cap companies to benefit from proportionate requirements.
Overall, we estimate that the Digital Omnibus could result in at least €1 billion in annual savings for our businesses, public administrations and citizens.
It would also generate €1 billion in one-off savings.
This brings the total annual administrative savings stemming from our omnibus proposals and other simplification initiatives to €9.6 billion.
This already represents a significant part of the overall target of €37.5 billion in annual administrative cost savings by the end of this Commission's mandate.
But it also indicates that there is a lot of work ahead of us.
We need to continue with at least the same pace of simplification to reach our ambitious burden reduction target.
Our approach to simplification will not change or undermine the main objectives of the EU's digital rules, such as protecting personal data and ensuring safe AI.
But it makes them more practical and consistent.
I would also emphasise that the Digital Omnibus is only the first step in the Commission's simplification efforts in the digital domain.
It seeks to provide our businesses with immediate relief by targeting low-hanging fruit.
In parallel, the Digital Fitness Check launched today will stress test the entire EU acquis to identify further areas for simplification in the digital area.
To conclude, Europe has not so far reaped the full benefits of the digital revolution.
We cannot afford to pay the price for failing to keep up with the demands of a changing world.
So, today's package of measures sends a clear message:
Europe is willing and able to adapt to fully embrace the digital age and the AI technology that will drive productivity for future European growth.
