EU industry ministers have launched a major review of the Union's policy on state aids, but an Irish resolution calling for greater transparency and a reduction in state aids was not passed. The Ministers agreed to a £100 million four year fund to back the Union's programme for small and medium sized enterprises. IBEC described the sum as disappointing and a failure to put the EU's money where its mouth is.

The ministers have not yet approved a paper from the Minister for Enterprise and Employment, Mr Bruton, which argues for greater transparency, an improvement in the legal procedures and a continuing reduction in the level of such aids throughout the EU. The paper also called for a register of decided cases and a rule book on state aid control.