"I believe there is too much European legislation, and that small businesses in particular should be exempted from overly bureaucratic international laws. I am Chair of one of the busiest committees in the Parliament in order to try to amend and delete overbearing EU laws."
The European Parliament runs a committee structure where all members have a seat on one main committee and usually a second substitute committee. In July 2014 following the European Parliamentary election, Vicky was nominated and elected to chair the Internal Market and Consumer Protection Committee. For more information about IMCO, please cick here.
Vicky was previously a full member of the Industry, Research and Energy committee (ITRE). Vicky explains: "This committee is vital to the interests of the East of England and the UK. Our region has world leading businesses particularly in innovative research. Energy supply and energy security are also key challenges for the years ahead. We cannot solve these problems in the UK by acting alone. Furthermore some of EU legislation and top down targets have added costs to energy bills, making it harder for our companies to compete on a global stage. This needs to be changed."
As part of ITRE, Vicky led the European Parliament negotiations on safety of offshore Oil and Gas, fighting off proposals to ban new drilling. She was also the only UK MEP involved in negotiations to reform EU spending on Research and Innovation.
Vicky says: "It is a little known fact that there are more UK companies, scientists and universities involved in EU funded research programs than from any other country. This is a vast amount of money, but is also hugely bureaucratic. International
co-operation in these areas can help researchers develop solutions to some of our great challenges like health and aging, food, energy and water security and help fuel innovation and growth - but it should not compromise our own national investment decisions."
Vicky was also a substitute member of the Economic and Monetary Affairs Committee and the Conservative Party's spokesman. As a substitute member she attended and took part in all debates on this committee. Vicky has campaigned heavily against EU proposals such as the Financial Transaction Tax, and has successfully fought off proposals which would have banned buy-to-let mortgages.
She achieved a relaxing of rules on bank capital in order to assist lending smaller companies. As parliament "rapporteur" she negotiated a specific exemption for the UK from EU rules which give Brussels oversight of national budgets, the first time such an exemption had been granted to any country. Vicky is also defending the UK interests in new rules regarding bank failures, arguing that the UK should not contribute to Eurozone funds for bank bail-outs as we have our own banking levy for the UK.
This committee is responsible for scrutinising and negotiating all banking and financial services regulation. Vicky explains: "In the years running up to the credit-crunch there was clearly a breakdown in the regulation and supervision of banks and certain
other financial institutions that allowed for such unpredicted risks to accumulate. It is vital that we learn the lessons from the past and put in place a stable regime for banking and financial services. Financial services are often global industries and it is important that we work with financial centers across the world to make sure that the approach is universal as over-legislating in the UK or EU will just send jobs to other parts of the world. However it is also critical that we understand the importance of financial services in the whole economy and one sized fits all rules are often not appropriate. Businesses, large and small, need capital to grow and create jobs - we must make sure that British businesses and employees are not put at a disadvantage when it comes to accessing capital."
Vicky has also had a seat as a substitute member of the Environment Committee.
Conservatives in the European Parliament are part of a new political grouping the "European Conservative and Reformist Group." We believe in a United Europe of Sovereign States not a United States of Europe."
The ECR principles are outlined in the Prague declaration.
For more information about the ECR group, click here.