In Paris on Tuesday, Europe’s digital economy ministers will meet to discuss the future. Their agenda should be obvious. The internet has been the bright spot in an otherwise bleak EU economy. The eurozone economy is expected to contract by 0.4 per cent in 2013. By contrast, the internet economy in the G20 countries is forecast to grow by 8 per cent each year for the next five years.
The internet has lowered barriers to entry and made it easier than ever for people to set up their own businesses and to become entrepreneurs. In Europe, we already have best-in-class tech businesses such as Swedish music streaming service Spotify, Finnish games developer Supercell, French display advertising business Criteo and British companies such as Just Eat, Mind Candy and Zoopla. The “internet economy” is also much broader than many people realise. Every business is an internet business to some extent. Many of our best-known, global companies are using digital innovation to bring better products and services to their customers.
The agenda for European governments should be clear: concentrate on policies that enable new business creation and encourage established businesses to innovate through technology. Create incentives for risk-taking to counter the worrying decline in venture capital investment. Make it quick and easy to start your own company and take the stigma out of failure by creating incentives that encourage entrepreneurs to try again. Embrace trade and fair competition and back innovation.
The French government is tabling a series of measures designed to encourage growth and innovation. Many make sense and echo efforts we are pursuing here in the UK. But if measures pertaining to new regulation and taxation are as reported, they appear to be both protectionist in nature and potentially damaging to future innovation and global trade.
For example, it sounds sensible to have US companies pay more tax in Europe. But the fact is we have a global tax system that taxes multinational companies where they create value.Indeed, the G20 and OECD are currently reviewing measures to reform the taxation of global companies.
1. Word of the day
entrepreneur： one who organizes, manages, and assumes the risks of a business or enterprise 创业者，企业家
2. Phrase of the day
contract by：If something contracts by a certain extent, the size of it will become smaller. 收缩，变小
e.g：The Thai economy is forecast to contract by as much as four percent this year, leaving as many as two million unemployed.
小编注：contract by是“收缩了”，而contract to是“收缩到”，两者意思有区别，注意区分。
3. Sentence of the day
But if measures pertaining to new regulation and taxation are as reported, they appear to be both protectionist in nature and potentially damaging to future innovation and global trade.
4. Cultural point of the day
欧元区 欧洲联盟成员中使用欧盟的统一货币——欧元的国家区域。1999年1月1日，欧盟国家开始实行单一货币欧元和在实行欧元的国家实施统一货币政策。2002年7月，欧元成为欧元区唯一的合法货币。欧元区共有18个成员国，包括奥地利、比利时 、芬兰 、法国 、德国 、爱尔兰、意大利、卢森堡、荷兰 、葡萄牙 、西班牙 、希腊 、斯洛文尼亚、塞浦路斯、马耳他 、斯洛伐克、爱沙尼亚、拉脱维亚，人口超过3亿3千万。受欧债危机影响，欧元区自2008年以来经济陷入持续衰退。2012年10月8日，欧洲稳定机制(ESM)启动，向债务缠身的欧元区主权国家提供贷款。
5. Translation of the day
For example, it sounds sensible to have US companies pay more tax in Europe. But the fact is we have a global tax system that taxes multinational companies where they create value.