According to the Government, this Law seeks to put an end to the current piecemeal legislation, which, by setting in place different requirements under the commercial legislations of each autonomous community, makes it difficult for operators to compete effectively, restricts the opportunities offered by economies of scale in larger markets, discourages investment and acts as a barrier to economic growth and job creation.
In the context of a unified European legislation, the law seeks to establish market unity nationwide in order to create a more favorable environment for competition and investment.
The main measures it looks to set in place are (i) the implementation of a single commercial license, valid for the whole of Spain; (ii) the creation of the Council for Market Unity made up of representatives from the autonomous community governments, the Ministry of Finance and the public authorities in order to push through changes to eliminate obstacles to market unity and ensure the effective integration of industry registers; (iii) the regulation of cooperation mechanisms between the public authorities and (iv) the establishment of a proceeding with the National Markets and Antitrust Commission to challenge administrative decisions that block the free circulation of goods and services.
In short, the Government’s initiative seeks to do away with the excess red tape with a simplified administrative procedure whose aim is twofold: to ensure greater legal certainty in the markets in order to incentivize national and foreign investment, while at the same time ensuring a clear macroeconomic impact. According to the Government’s estimates, market unity has a direct impact on the reduction of administrative charges which is placed at 35% for the creation of businesses, a reduction which represents 0.97% of GDP. The Government also estimates that the freeing up of resources assigned for administrative charges will enable a 2.07% increase in productive work in relation to total employment and, in the long term, will lead to an additional growth in GDP of 1.52%.