Le Luxembourg pas inquiet face aux délocalisations selon la Chambre de commerce

Should Luxembourg prepare for economically bleak days ahead? The president of the Chamber of Commerce, Carlo Thelen, stirred things up on Wednesday by detailing threats of outsourcing in certain sectors – particularly wealth management – and “continuous slow decline” in the business world for the past year and a half.

This is the result of an economic context – prices of materials and energy, inflation, and shortages – which is not unique to the Grand Duchy, but also includes… labor costs, one of the employers’ main arguments against wage indexing.

“Typically a business position to pressure salaries. They are doing it by all means,” responds Nora Back, who notes “no signs of outsourcing. On the contrary.” For the president of the OGBL union, the Chamber of Commerce’s presentation is “nothing but an attack on the indexing system and a way to influence election programs (…). Let them stop scaring people, it’s counterproductive for the economy,” she continues.