Annual inflation rate increased from 6.8 to 6.9% last month.
MPs were still working on converting the tripartite agreement, that aims to counter inflation, into draft bills.
Luc Frieden said he anticipates the next six months to be “tough”.
The takeaway quote: “Since the introduction of the euro, the state’s debt has never been as high as it is today,” Frieden said.
Who is Luc Frieden? He’s the president of the Chamber of Commerce and was Minister of Finance between 2009 and 2013.
Apartment prices went up 11.5%
House prices went up 15.5%
Number of transactions was down 17.1% YoY change between Q2’s 2021/2022.
The property tax reform was announced today, Friday. (Updated, details below)
Until now property tax bills accounted for less than 0.1% of Luxembourg’s GDP.
The government said municipalities still get to determine the property tax on undeveloped plots but it has to be between 9 and 11%.
It introduced a ‘speculation’ or ‘mobilisation’ tax to incentivise construction.
It also announced a national tax on empty apartments.
Also announced: amendments to the rent laws and a reform of the rent maximum, designed to protect tenants.
The government this week also told us that there are more women on boards of state-owned companies, but its objective has not yet been met.
Relevant: Flavio Becca (known for developing ‘Cloche d’Or’) said he’s willing to integrate more affordable housing into his projects, if he is allowed to build higher.
Days of isolation for Covid patients have been reduced to 4.
That’s also how many ‘sick leave’ days you will now receive.
800 infections per day (up to) are expected in Luxembourg in November.
A more contagious Omicron sub-variant where the vaccine is thought to be less effective is the reason.
Experts said the hospital sector is prepared.
Luxembourg’s management of COVID-19: A report by the OECD was overall positive and praised the country’s response. It did however highlight a failure to help self-employed workers and the country’s reliance on foreign health-sector workers as an issue.
Also: The Government should introduce a ‘pandemic law’ to avoid having to call a ‘stage of emergency’ in the future.
It offers courses aimed at training multipliers for the 2023 municipal elections.
The elections will take place on 11 June 2023.
Since the law changed in July, most residents will be eligible to vote.
What is a multiplier? A multiplier is a person who can then inform others about the process, think of them as ‘community leaders’ who can help inform their ‘communities’ about the process.
The Socialists presented their candidates for the City, they are Gabriel Boisante and Maxime Miltgen. The Greens have already announced their candidates: Francois Benoy and Claudie Reyland.
I wrote about the upcoming elections on Monday. On Thursday, I asked if the Socialists can challenge the Democratic Party.
More than 40 leaders of European countries met in Prague.
It was a historic first meeting of a new European Political Community
Energy, migration and security were the main topics.
The war in Ukraine dominated
It could mark a new phase in the post-Brexit EU relations with the UK.
Not much expected: Despite the rhetoric there are expected to be few concrete results from the summit. No formal communique is expected after the summit.
Officials close to Macron said he is determined that Europe remain united. He first mentioned the idea of a European Political Community, during the French presidency of the European Union.
The EU’s foreign policy chief Josep Borrell said the meeting highlighted Russia’s international isolation over the war in Ukraine.
Joe Biden said that Putin is serious about his threats of using nuclear weapons.
Relevant: Luxembourg’s Alternative Democratic Reform Party suggested the sanctions against Russia should be lifted.
Saudi Arabia, Russia and the rest of the OPEC+ energy cartel said they will cut oil production. The United States wasn’t happy. This could complicate the process of imposing a price cap on Russian oil and gas at EU level.
The UNHRC voted against debating alleged widespread abuses in China’s Xinjiang region after intense lobbying by Beijing, in a major setback for Western nations.
Ukraine’s army expelled Russian forces from land that Russia illegally annexed.
Your Weekly Recap is published every Friday. Read earlier versions.
What did you think? What would you like the Weekly Recap to include? Happy for it to be published later in the day? Let me know: christos.floros@rtl.lu
Christos Floros covers News and Politics for RTL Today @christosfloros
