There are “cracks” in Luxembourg's “financial foundations,” says PM
The time to get the Grand Duchy's economy back on track is now, Luxembourg Prime Minister Xavier Bettel said on Tuesday, with a “global” tax reform on the horizon and the indexation of wages to remain limited over the coming years.
(CS) The time to get the Grand Duchy's economy back on track is now, Luxembourg Prime Minister Xavier Bettel said on Tuesday, with a “global” tax reform on the horizon and the indexation of wages to remain limited over the coming years.
Bettel said that the current wage indexation system, which is valid until next year, will be extended to last beyond 2015. Agreed in 2012, it foresees that wages are adjusted only once a year, as long as Luxembourg can still be considered to be going through the financial crisis.
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