Following the "State Aid Action Plan" adopted in 2005, the European Commission has presented a new block exemption regulation for consultation. The regulation will consolidate the five existing block exemption regulations (aid to small and medium-sized enterprises (SMEs), research and development aid in favour of SMEs, aid for employment, training aid and regional aid) into a single text. Block exemption regulations permit Member States to grant aid in the sectors covered by the regulation without having to first seek the Commission’s approval. The new regulation will also include exemption rules for three other types of aid: environmental aid, aid in the form of risk capital, and research and development aid for large companies. Additionally, specific rules have been added for aid granted in the sectors of agriculture, fisheries and transport. The reform aims to simplify and increase the coherence of the existing rules.