Some of the red tape surrounding access to European funds could be trimmed to make them more readily available to companies, SMEs and researchers and better able to boost innovation and growth. This is one of the key ideas behind a planned revision of the EU's financial rules. The proposal outlines various measures for cutting down the costs and workload involved in the current procedures. For an example a company bidding for a Commission contract has to supply a whole host of documents and is required to send the same information in response to each new request. Some of the information may now be retrieved in archives. There is also a plan to do away with the requirement to open a special bank account to receive the European funds and to forward the Commission any interests the resources generate.