Marc Wagener, centre, at the Idea Foundation press conference on 11 April
Photo: LaLa La Photo
During its annual press conference on 11 April 2018, Luxembourg think tank the Idea Foundation presented its opinion on the state of the economy and public finances. It also set the government a homework assignment of five questions, to be handed in no later than 2023. Foundation director Marc Wagener presented questions concern Luxembourg’s future.
“We have developed five questions for the government to work on between now and 2023,” said Wagener, “and we sincerely hope to receive resounding “yes” in response to each one.”
He explained why the Idea Foundation is challenging the government in this way. “We are in a phase of positive economic growth, but we must not be complacent. We must constantly look for new growth opportunities.”
So, the government’s homework is to work on having a positive response to each of the following five questions:
Has the Luxembourg economy found any new niche growth areas?
“Regardless of whether it is qualitative, intensive, extensive, inclusive, sustainable, intelligent or selective, Luxembourg needs growth to ensure its prosperity. Stagnation is not an option,” said Wagener.
Is Luxembourg a European leader in innovation?
Wagener believes that, “Luxembourg is on its way to becoming an innovation leader. It is not there yet but is making very positive steps forward.”
Is our socio-economic model adapted to suit the challenges of Luxembourg’s demographic growth?
“We anticipate between 650,000 and 700,00 inhabitants by 2023, will we be ready to accommodate them? Do we need to introduce significant reforms to the housing market, and is the social security and pensions system robust enough to cope with the increased pressure?”
Inclusive growth: have inequalities on the socio-economic plan decreased?
“We must always question ourselves on the matter of inclusive growth,” Wagener insisted. “Otherwise we risk polarising certain groups of the population.”
Ecological transition: is our strategy defined and are we committed?
“Are we fully committed to, and progressing on, the Paris Agreement, for example? How far have we come in adopting circular economy principles?”
The full Idea Foundation report, entitled “L’Elue?”, can be read here.