CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Germany: Boost investment and productivity for a stronger economy and more inclusive society
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

  • Asset finance up 16% in June
    New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase)… More

Headlines

 
Germany: Boost investment and productivity for a stronger economy and more inclusive society PDF Print E-mail
Friday, 08 April 2016
Germany is in a solid economic position, but ageing and technological change require new investments in people to ensure a stronger and more inclusive society, according to the latest OECD Economic Survey of Germany. 

The Survey, presented in Berlin today by OECD Secretary-General Angel Gurría, highlights Germany’s robust recovery and high levels of competitiveness since the global economic crisis. It also points out the wide range of challenges facing the country as it seeks to strengthen productivity, boost well-being in a rapidly ageing society and ensure the integration of newly-arrived migrants.

More investment will be key to raise productivity and living standards. Fostering investment in knowledge-based capital and unleashing the potential of key services would also strengthen the competitiveness of manufacturing, facilitating the transition to “Industry 4.0.” Investing in key education, the lifelong skills development of German employees, on social services as well as boosting public investment in poor municipalities would also enhance inclusive growth, according to the Survey. There is scope to improve efficiency in identifying and implementing municipal investment projects.

Steps to eliminate regulatory biases that hold back the reallocation of resources would boost productivity and investment. The Survey points out that there is particular scope to raise productivity in services through regulatory reform. Improving governance or further privatising government stakes in important businesses would also help.

image008.jpg“Despite the turbulence in the world economy, the German economy remains robust, with strong export performance and low unemployment,” Mr Gurría said. “Germany must use its position of strength to prepare for the future, notably by ensuring the successful integration of the wave of refugees who have been offered asylum. These population inflows are an opportunity to counter demographic trends and lay the basis for a more diversified and productive economy.”

The Survey underlines that effective integration policies for the newly arrived immigrants will be critical for Germany to improve economic outcomes and ensure social cohesion. This requires up-front spending on training and language skills. Giving access to the labour market more quickly to all refugees who are likely to stay and boosting active labour market programmes will also be necessary.

Germany has implemented far-reaching labour market reforms in the past, but it can do more to eliminate the barriers for women to develop their professional careers, which would boost well-being and incomes substantially. This should include greater investment in childcare, early childhood education and full-day schooling, and lowering the high tax burden on household’s second earners that discourages many women from working full-time. The introduction of a separate tax-free allowance for second earners would improve incentives to work.

Indexing the statutory retirement age would improve the sustainability of the pension system, the Survey says. As the retirement age needs to go up, coverage of disability risks could be improved. There is also scope for further reforms to remove barriers to employment - and well-being - of older workers. Barriers for older workers to combine pension receipt with employment can be removed and the prevention of health risks at higher age could become more effective.
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197