I don't think EU (or really, non-US!) policy makers understand that the main reason why people working on software are leaving is because there is absolutely no functional VC ecosystem that can fund competitive salaries. Everything else - complaining about "overregulation", language diversity, emission caps etc. - are just distractions from that.
If you get paid $300k for the same work you get $60k in Europe, then people _will_ leave. And while the "oh, but healthcare costs more!" argument is still totally valid, the gap in compensation has grown so drastically recently that it's probably less of a concern for people, not to mention that people (can) also work for US companies remotely in the EU and beyond, still getting the same benefits.