Good afternoon everyone.

The package of measures we present today marks an important step in our ambitious simplification agenda.

Europe must urgently act to secure our long-term prosperity. Simplification, or reducing bureaucracy, is essential for a competitive Europe.

Today, over 60% of EU companies view regulations as an investment barrier. Small and medium-sized enterprises (SMEs) are particularly affected, representing 99% of all EU businesses, including many agricultural enterprises.

We aim to reduce administrative costs by 25% for all companies and 35% for SMEs, amounting to savings of approximately €37.5 billion annually.

In February, we introduced proposals to simplify EU rules in sustainability reporting and public investments, estimated to save €6.3 billion annually.

Today, we focus on the agricultural sector. We simplify the payment scheme and reduce administrative burdens for farmers, allowing them to concentrate on farming instead of paperwork.

We estimate that the measures in todays proposal will save up to €1.6 billion annually for Europes farmers and over €200 million for national administrations.

In conclusion, todays package shows we are making strong progress with our simplification agenda. We listen to and value Europes farmers, and are committed to supporting them.

Thank you.