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National

Government presents new growth plan

The government listed four key areas aimed at making it cheaper and easier to create jobs


The 89 initiatives in the growth plan are expected to generate six billion kroner of growth (Photo: Scanpix)

May 8, 2014
14:34

by Christian Wenande


The prime minister, Helle Thorning-Schmidt, presented the government’s new growth plan today at a press conference that aims to completely push Denmark out of the financial crisis and promote business growth.

The growth plan, entitled 'Danmark Helt ud af Krisen - Virksomheder i Vækst' (’Denmark all the way out of the crisis – Growth for Companies’), listed four central areas and 89 initiatives that will help accomplish the goals.

“The government has assumed responsibility for bringing Denmark safely through the crisis with our unity intact,” Thorning-Schmidt said.

“Instead of just focusing on taxes and fees, we must use our whole tool box. We don’t advocate zero growth, but an annual rise of 0.6 percent in the public sector.”

READ MORE: Government sets aside billions for research

Company delight
The government’s four key areas aimed at making it cheaper and easier to create jobs were:

 - Making it easier and cheaper to run a company, including a 5.8 billion kroner easing of the Public Service Obligations tax that companies have to fork up for energy consumption.

 - Better access to financing options including discounts for contributions into small companies and an easing of dividend taxation for companies. The growth and export loan initiatives were also extended.

 - Lower prices for consumers and companies by making the supply sector more efficient (expenditure: 3.3 billion kroner), a more homogeneous national standard for the construction sector and improved competition in the private service sector.

 - Obtaining more highly-skilled workers and more advanced production via improved international recruitment, better adult education, more internships and more research, to which the government has earmarked three billion kroner.

READ MORE: Economy warming up, according to minister

Reduced costs
The 89 initiatives for the growth plan, here in Danish, are expected to generate six billion kroner of growth, while companies will be able to reduce their expenses by four billion kroner thanks to less administrative burdens and lower costs.

The plan will also lead to companies being able to enjoy an additional eight billion kroner worth of investments looking ahead to 2020.

The government did not reveal how many jobs its growth plan could potentially generate.



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