This Week’s Editorial: Not so much is rotten … – The Post

This Week’s Editorial: Not so much is rotten …

The World Bank’s ‘Doing Business Report’ called Denmark the best country in the world to do business in
June 2nd, 2016 6:00 pm| by Ejvind Sandal

In the first quarter of 2016, Denmark has seen an increase in its GDP of 0.5 percent. It may be adjusted later, but up front it is a significant step in the right direction.

Interestingly, it has been calculated that the increased cost of handling the refugees and migrants at the present level amounts to just 0.1 percent of the GDP. Gone are the bleak predictions that these expenses would jeopardise the welfare system.

Assuredly competitive
On top of that, Denmark has been confirmed as number six in the World Competitiveness Yearbook – just a place behind Sweden after an improvement of two places. The yearbook applauds Denmark’s legal robustness, absence of corruption and general equality.

The government’s ambitious green policy and the current quality of research and science in the country, despite the recent austerity cutbacks, have also played a large role, although it remains to be seen what happens to the PSO tax. It has been declared illegal by the EU Commission and has to be restructured. It may be funded directly by income tax instead of a tax on energy. This would jeopardise the tax ceiling policy so what the end result will be is not clear.

The World Bank’s ‘Doing Business Report’ placed Denmark at number three in its competitiveness rankings, calling Denmark the best country in the world to do business in.

While the World Economic Forum rated Denmark at number 12, although it was a close race with other western European countries such as Germany, the Netherlands, Sweden and Finland.

Not a bad outlook
All in all, the conclusion is that it is going relatively well for the kingdom.

A sign of optimism this week was the signing of conditional construction contracts of the biggest ever infrastructure project between Denmark and Germany. The Fehmarn Link will cost 30 billion kroner. Formal German approval has not yet been issued, but Chancellor Merkel has nodded enough to suggest it is a done deal.

The improvement of traffic is expected to be massive. Not only Denmark, but all Scandinavia will benefit from it. Meanwhile, an upgrade of the Danish railway system will introduce new lines and eliminate other bottlenecks.

Infrastructure projects tend to exceed their budgets, but are normally profitable in the end!

All in all, we can conclude that the state of Denmark is in better shape than when Shakespeare gave his opinion in 1603.

Ejvind Sandal

Copenhagen Post editor-in-chief Ejvind Sandal has never been afraid to voice his opinion. In 1997 he was fired after a ten-year stint as the chief executive of Politiken for daring to suggest the newspaper merged with Jyllands-Posten. He then joined the J-P board in 2001, finally departing in 2003, the very year it merged with Politiken. He is also a former chairman of the football club Brøndby IF (2000-05) where he memorably refused to give Michael Laudrup a new contract prior to his hasty departure. A practising lawyer until 2014, Sandal is also the former chairman of Vestas Wind Systems and Axcel Industriinvestor. He has been the owner of the Copenhagen Post since 2000.