114 ANALYSIS AND PROSPECTIVE STUDIES CULTIVAR No. 34 The future of the Common Agricultural Policy mobilise targeted national public support for the industry, insofar as it addresses market failures in a proportionate manner, and, on the other hand, the need to avoid fragmentation of the Single Market. Unlocking private investment and redefining the approach to state aid will facilitate the creation of the political conditions necessary to unleash another essential dimension: European public-private investments. Although these investments are essential to ensure that the EU's strategic objectives are met, they are not sufficient on their own. There are three key elements that must be incorporated into our approach to improve how money is spent and increase its impact. — Incorporating the principles of the circular economy into the Single Market; — Making better use of public procurement practices; — Strengthening the administrative capacities of public sector organisations. 4. A Single Market toplay big: scale matters In today's complex geopolitical landscape, it is not enough to rely solely on existing strengths. The future influence of the European Union depends on the performance and scalability of our businesses. This gap has critical implications for innovation, productivity, job creation and, ultimately, the security of the EU. However, not all EU businesses and markets need to be bigger. Our model, which thrives on the vital link between large and small companies, must be preserved, as it is the basis of our social market economy. The need for growth in scale concerns, first and foremost, finance, energy and electronic communications, as essential factors in any industrial policy and strategic sectors that must play a more important role in promoting the EU's interests. Similar considerations can be made with regard to the common approach to defence. The integration of a European dimension in the health sector has also become crucial to ensuring access for all EU citizens. Finally, the transport sector is an excellent example of an area where deeper European integration is crucial to realising the full potential of the Single Market. 5. A sustainable Single Market for all Despite the successes of the Single Market as a cornerstone of economic growth, social progress and improved living conditions, there is debate about the distribution of these benefits. In particular, there is a perception that the advantages of the Single Market mainly benefit individuals who already have the means and capabilities to take advantage of cross-border opportunities, or large companies that can easily expand their operations across all Member States. That is why Cohesion Policy was implemented as a fundamental element of the Single Market. To deliver on its promises of shared prosperity, the Single Market must address several vital needs: • Continue to guarantee the free movement of people, but also ensure 'freedom to stay'; • Ensure that any development of the Single Market includes a genuine social dimension that ensures social justice and cohesion; • Facilitate greater participation by small and medium-sized enterprises (SMEs) in the Single Market; • Strengthen consumer protection rules. 6. A Single Market to go fast and go far Currently, the dynamism and efficiency of the Single Market are being significantly hampered, mainly due to excessive regulatory and bureaucratic burdens. These issues have not only created an intolerable barrier to the effective application of Single Market rules, but have also seriously undermined the competitiveness of businesses,
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