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Neena's Jobs Opinion agreed at Euro Parliament

West Midlands Labour MEP Neena Gill continues her fight in the European Parliament to protect and renew local jobs in our area.

Neena has had her opinion heard at the recent Committee on Legal Affairs, which passed its recommendations unanimously.

Speaking from her West Midlands Constituency office Neena said “This opinion, along with other proposals I am working on in the European Parliament such as the development of micro-credit for small companies, could provide a real boost to our regional economy when we need it most. The West Midlands has a solid manufacturing base, but it needs small businesses to support it. We must act quickly to stave the worst effects of the downturn.”

Opinion of the Committee on Legal Affairs for the Committee on Economic and Monetary Affairs on a European initiative for the development of micro-credit in support of growth and employment

(2008/2122(INI))

Rapporteur: Neena Gill

(Initiative – Rule 39 of the Rules of Procedure)
PE415.045v03-00 2/4 AD\759365EN.doc

SUGGESTIONS
The Committee on Legal Affairs calls on the Committee on Economic and Monetary Affairs, as the committee responsible, to incorporate the following suggestions in its motion for a resolution:

1. Observes that the potential beneficiaries of micro-credits should have the benefit of proper legal advice with regard to the conclusion of the credit agreement, setting up a business, debt collection, the acquisition and exploitation of intellectual and industrial property rights and so on, particularly when the micro-business concerned intends or has the potential to do business in other Member States of the European Union;

2. To that end, calls for efforts to be made at European level to set up a network of lawyers prepared to give advice initially on a pro bono basis to micro-business start-ups;

3. Welcomes the proposal to encourage Member States to focus funds on developing nonbank micro-credit institutions; identifies the following institutions – credit unions, mutual and provident societies, community development financial institutions and guarantee banks – as possible sources of funding and self-help for micro-businesses, and asks that these avenues be thoroughly explored when proposals are drafted for legislation in this area;

4. Calls for the utmost efforts to be made to reduce the regulatory burden on microbusinesses to the strict minimum and asks the Commission to act accordingly;

5. Calls on the Commission to ensure that efforts are made to render micro-finance
institutions accessible to communities.