9. Calls on the Member States, with this in mind, to ensure that national rules on the taxation of inheritance and gifts, on debt and equity and on corporate taxation support, rather than discriminate against, equity financing, which is so vital for family businesses; recalls that direct taxation and succession law are Member State competences; calls on the Member States, therefore, to examine the debt bias within their tax codes by assessing its impact on the financing structure of companies and the level of investment, and to ensure equal treatment of equity financing as compared to debt financing in order not to impede the successio ...[+++]n of ownership and the long-term prospects of family businesses; calls on the Commission and the Member States to examine any tax-driven discrimination vis-à-vis equity financing against the background of fair competition;

9. Calls on the Member States, with this in mind, to ensure that national rules on the taxation of inheritance and gifts, on debt and equity and on corporate taxation support, rather than discriminate against, equity financing, which is so vital for family businesses; recalls that direct taxation and succession law are Member State competences; calls on the Member States, therefore, to examine the debt bias within their tax codes by assessing its impact on the financing structure of companies and the level of investment, and to ensure equal treatment of equity financing as compared to debt financing in order not to impede the successio ...[+++]n of ownership and the long-term prospects of family businesses; calls on the Commission and the Member States to examine any tax-driven discrimination vis-à-vis equity financing against the background of fair competition;

42. Stresses that bank financing and the intermediary role of banks in capital markets are important pillars in business financing; highlights that the CMU should be based on complementing the fundamental role of banks, not about displacing them, as bank financing should continue to play a key role in the financing of the European economy; stresses the important role of relationship banking in financing micro-, small and medium-sized enterprises, which can also be used to provide alternative methods of financing; recalls the strate ...[+++]gic dimension of having a strong and diversified European banking sector; calls on the Commission to investigate access to bank lending for SMEs across the Union, and to tackle inappropriate barriers;

42. Stresses that bank financing and the intermediary role of banks in capital markets are important pillars in business financing; highlights that the CMU should be based on complementing the fundamental role of banks, not about displacing them, as bank financing should continue to play a key role in the financing of the European economy; stresses the important role of relationship banking in financing micro-, small and medium-sized enterprises, which can also be used to provide alternative methods of financing; recalls the strate ...[+++]gic dimension of having a strong and diversified European banking sector; calls on the Commission to investigate access to bank lending for SMEs across the Union, and to tackle inappropriate barriers;

42. Stresses that bank financing and the intermediary role of banks in capital markets are important pillars in business financing; highlights that the CMU should be based on complementing the fundamental role of banks, not about displacing them, as bank financing should continue to play a key role in the financing of the European economy; stresses the important role of relationship banking in financing micro-, small and medium-sized enterprises, which can also be used to provide alternative methods of financing; recalls the strate ...[+++]gic dimension of having a strong and diversified European banking sector; calls on the Commission to investigate access to bank lending for SMEs across the Union, and to tackle inappropriate barriers;

4. Where financial instruments support financing to enterprises, including SMEs, such support shall target the establishment of new enterprises, early stage-capital, i.e. seed capital and start-up capital, expansion capital, capital for the strengthening of the general activities of an enterprise, or the realisation of new projects, penetration of new markets or new developments by existing enterprises, without prejudice to applicable Union State aid rules, and in accordance with the Fund-specific rules.