During debates in the European Parliament in Strasbourg, EU Commissioner Serafin delivered a keynote speech devoted to reducing the administrative burden on European business. According to him, the key question facing Europe is whether it is doing enough to ease the conditions for those who create jobs, invest, and develop the bloc's economy. The Commissioner emphasized that excessive reporting requirements and bureaucratic procedures have become a serious obstacle for entrepreneurs, particularly small and medium-sized businesses. The speech outlined concrete steps that the European Commission intends to take in the near future to simplify the regulatory environment and reduce costs associated with compliance with EU standards. Among the proposed measures is a review of a number of reporting obligations that, in the Commissioner's view, do not provide substantial practical benefit while consuming significant resources from companies. Serafin noted that the goal of the initiative is to provide rapid and tangible relief for business without reducing standards of transparency and protection of stakeholder interests. The speech took place in the context of a broader discussion in the EU about the competitiveness of the European economy and the need to reduce regulatory burden, particularly amid intensifying competition from other global economic centers. Members of the European Parliament discussed the proposed measures and possible further steps for their implementation.