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The European Commission considers that there is a real need for a simplification and rationalisation of the current VAT rates structure, in particular the reduced VAT rates. It believes that there is a place for more flexibility which would allow Member States to apply VAT reduced rates to local supplies.

Four days after the full opening of the EU energy markets, the European Commission is launching a process that will eventually lead to the adoption of an Energy Consumers Charter. Consumers’ rights in the energy sector will thus be compiled in a single document at EU level for the first time. The Charter will aim to inform EU citizens about their rights relating to electricity and gas. The European Commission would like to encourage interested parties to participate in the consultation process on the current elements of the Charter in order to ensure a well-balanced final document.

The European Commission adopted proposals for a wide-ranging reform of the Common Market Organisation for wine. This follows more than one year's discussion with all parties on the ideas launched in the June 2006 Communication. This aims to increase the competitiveness of EU producers, win back markets, balance supply and demand, simplify the rules, preserve the best traditions of EU wine production, reinforce the social fabric of rural areas and respect the environment.

The VocaLink take home pay index shows that growth in take home pay has risen to 3.3 per cent in June from 3.0 per cent in May. This is the reversal of a trend which has seen a continued fall in the index since February 2007.

EBC, the European Builders Confederation, submitted to the European Commission amendment proposals to the draft Construction Products Directive Regulation.

The European mobile broadband market is growing exponentially with demand fuelled by declining prices and improving performance. Total market value for devices and network services in EU23+2 reached € 1.1 billion in 2006, with shipments of PC-cards and USB-modems growing to 3.2 million units.

In May 2007, compared to May 2006, retail trade of “food, drinks and tobacco” increased by 0.4% in the euro area and by 1.1% in the EU27. The non food sector rose by 0.3% and 2.2% respectively.

The European Union currently benefits from strong economic growth and a rise of productivity and employment, which are supported by a modern and well functioning industrial policy. This policy is based on both horizontal and sectoral initiatives, which have already been adopted or are being implemented.

Slovenia should strengthen its efforts to raise public and private sector awareness about the fight against foreign bribery, according to a new report by the OECD Working Group on Bribery.

The euro area started 2007 on a healthy footing, finds the Quarterly Report on the Euro Area. Economic growth in the first quarter reached 3% in annualised terms spurred by domestic demand, particularly investment. Consumption contracted slightly but is expected to recover quickly as consumer confidence approaches an all-time high. Export growth decelerated, but this reflects mainly statistical effects and, possibly, a cooling off of the international environment rather than the appreciation of the euro. The focus section of the report shows that financial integration clearly has positive effects on economic growth and is also important for the smooth functioning of EMU. Therefore, euro-area Member States have even more to gain from financial integration than other EU Member States.