Europe’s digital single market 16 point plan unveiled: What is it, what does it mean, why does it matter?
Europe wants to build a digital single market – and now it has a 16-point plan of how it's going to make that happen.
What is it?
The European Commission intends to bring a whole number of markets that are digital, from ebooks to parcel delivery and video on demand to VAT, in line with regular markets (think manufacturing or farming) in terms of regulation and consumer protection.
“I want to see pan-continental telecoms networks, digital services that cross borders and a wave of innovative European start-ups,” said EC president Jean-Claude Juncker today.
What does it mean?
The three major aims of the digital single market are: better access for consumers and businesses to digital goods and services across Europe; creating the right conditions and a level playing field for digital networks and innovative services to flourish; and maximising the growth potential of the digital economy.
Today's plan includes a host of steps. Some include introducing new legislation over the next five years to make those things happen, other steps do not require new laws.
Why does it matter?
The EC believes a digital single economy could contribute €415m to the European economy every single year.
At the moment, 44 per cent of people livingin the EU shop online, but just 15 per cent buy cross-border, while only seven per cent od small businesses sell cross-border.
Who needs to take notice?
Consumers are set to benefit from potentially greater access to digital products (for example, the latest series of your favourite show may have debuted on an on-demand video site in another European country, but not here. A digital single market could potentially mean it would debut at the same time across Europe).
Everyone across the region could also get cheaper parcel delivery.
Tech companies have been seen as the major target of these reforms, particularly the dominant US players such as Apple, Amazon, Facebook and Google – many of which have already attracted the attention of Brussels over their market dominance.
UK startups are set to benefit from the proposed changes.