On 9 February, the Chamber unveiled 30 actions to support businesses through these times of high inflation, lack of skilled labour and access to affordable energy. They include a new strategy for talent, fewer indexations and tax breaks for startups.
With companies continuing to struggle to adapt to multiple crises at once, Luxembourg’s Chamber of Commerce has come up with an action plan to support businesses through these challenging times.
“For more than half of companies, the lack of skilled labour, the cost of labour and affordable access to energy and raw materials are the challenges of their economic development in 2023”, explained the Chamber of Commerce.
These remarks are based on the latest Economy Barometer, which collected the opinions of more than 600 companies across sectors and formed the basis of the 30 proposals, along with meetings in the field, and extensive consultations with member companies of the Chamber.
The 30 proposals are grouped into the six major challenges facing businesses and the Luxembourg economy as a whole: developing talent and an open labour market; accelerating the ecological transition; laying the foundations for a data-driven economy; meeting housing and transportation needs; maintaining and increasing economic attractiveness; ensuring sustainable public finances, pensions and social protection for all generations.
Some of the most striking solutions include limiting the number of indexations to one per year, creating a multilingual platform to facilitate the entrance of third-country nationals, introducing a “super tax dedication” for digital and green businesses, creating a form of “tax shelter” to ease the financial burden of startups, opening up affordable housing schemes to private companies and reforming the pension system with regard to equity and the sustainability of pension schemes.
For a full overview of the 30 propositions, see here.
Grouped in six booklets following the major themes – the first of which is about the labour market and talent – the proposals were also formed in the context of the upcoming legislative elections and will serve as a reference document for upcoming public debates and political decisions. With three upcoming roundtables planned to familiarise the political parties and heads of businesses with these solutions, the Chamber hopes that they will find their way into the campaigns of the parties and later in the government strategy.
To follow the first round table discussion on the labour market and talent of 27 March, register here.
