The speech underlined ‘uncertainty’ in what the future may hold.
Bettel highlighted his government’s plans to invest in defence, sustainable energy, healthcare and transport.
Climate change, he said, is the most imminent threat to humankind.
Elisabeth Margue replaced Viviane Reding for the CSV in opposition.
These are the laws expected to be passed this term.
The opposition expressed disappointment at the lack of concrete proposals with the CSV calling the speech a “two-hour activity report”.
Luxembourg’s powerful unions also reacted to the speech, with Nora Back of the OGBL saying the speech lacked references to inequality and poverty.
Relevant: The Climate Policy Observatory (OPC)in its first report warned that the window of opportunity for climate action is closing rapidly.
Read in full: Here’s the full State of the Nation speech.
Viewpoint: I thought the Prime Minister evoked a fragility in his address.
Minister of Finance Yuriko Backes called it a “crisis budget”
Public debt is expected to reach 26.3% of GDP next year
47% of government expenditure will go to social benefits, subsidies, grants and transfers to social security.
Deadline for filing tax returns postponed: You now have until 31 December, rather than the end of March to take care of your tax returns.
No Room for Major Tax Reform: Backes said the state had spent €5.5 billion in pandemic related matters and that as a result, she believes there is no room for a major tax reform.
The LSAP expressed its disappointment at the announcement and said it will pursue a major tax reform, turning it into a campaign issue for next year.
The ADR said Luxembourg could invest less in international development aid to save up money.
Relevant: The annual report of the CCSS showed a record number of people affiliated to the Luxembourgish social security system in 2021.
Global growth is expected to slow further next year, with growth at 2.7%.
A third of the global economy is headed for contraction
3 biggest economies: USA, EU and China will stall
Germany forecast a recession for 2023
UK government bond yields kept rising, inflicting more pain for UK households and British PM Truss ruled out any cuts to public spending. Some already discuss her replacement.
The G20 held talks in Washington, but Russia’s presence made any consensus unlikely.
An economic polycrisis: Adam Tooze, director of the European Institute at Columbia said high inflation, rising interest rates and high levels of debt point to an economic “polycrisis” unlike any the world has seen.
More than 80 missiles hit cities across the country, during a week-long Russian barrage.
The bombings killed at least 11 and wounded more than 80
The attacks were retaliation for an explosion last weekend that damaged a key bridge linking Russia to annexed Crimea
The UN said the attacks could amount to war crimes.
Some Nato allies announced deliveries of advanced air defence weapons to Kyiv, and the G7 and IMF pledged their steadfast financial support to Ukraine as well.
Vladimir Putin met Turkey’s President Erdogan. Putin said Turkey is the most reliable route to deliver gas to Europe, and proposed building a gas hub there. Erdogan defended Ankara’s booming trade ties with Moscow. Turkey has not joined sanctions on Russia over its invasion of Ukraine.
China’s 20th Communist Party Congress begins on Sunday.
Xi will cement his position as China’s most powerful leader since Mao Zedong.
Analysts expect Xi to rule China ‘for life’.
A rare protest against Xi & China’s Covid restrictions took place in Beijing.
Five things to knowabout China’s Communist Party Congress.
Xi’s insistence on a single ‘Chinese identity’ has led to charges of cultural genocide from scholars and foreign countries, especially in regards to the mass detention of Uyghurs and other Muslim groups in Xinjiang.
From this week, every week, at least one story related to Climate Change will be included in your Weekly Recap.
1,000 fewer apartments were expected to be developed this year in Luxembourg as interest rates for home-purchases rose, whilst the fixed interest rate headed towards 3%.
Doctors and Dentists in Luxembourg said its healthcare policies are based on hopes and dreams.
Kanye West was locked out of his Twitter and Instagram accounts after posting anti-Semitic messages saying he would go “death con 3 On Jewish people”.
Your Weekly Recap is published every Friday. Read earlier versions.
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Christos Floros covers News and Politics for RTL Today @christosfloros
