Let's Scrap the Holiday for Economic Growth, Says IW Chief
Chef advocates scrapping a holiday for improved financial results - Executive Head advocates for elimination of holiday for enhanced economic growth.
Hear that, folks? The boss of economists, Michael Huether, reckons scrapping the Buß- and Bettag public holiday way back in '95 opened up more work opportunities. He's echoing the sentiments of the Association of Bavarian Business who recently advocated for the axing of religious holidays.
But Marcel Fratzscher, the big cheese at the German Institute for Economic Research (DIW Berlin), isn't buying it. According to the renowned economist, we can't solve our labor shortage by nixing holidays or offering full-time job overtime tax breaks. Instead, he points to eliminating obstacles to employment for women, refugees, and other foreign individuals.
His crystal-clear opinion? "Only by significant immigration increases and removing employment barriers for women will the labor shortage be contained." Boom, there you have it. So, what's your take on this, folks? Scrap the holidays for economic growth or keep the holidays for our mental health? Don't hold back, let's hear it.
Lest you think we're repeating nonsense, some other think tanks have suggested that reducing public holidays could help alleviate labor shortages and fund military modernization and infrastructure projects[1]. But, as always, to get the views of the Association of Bavarian Business or Marcel Fratzscher on this particular topic, you'd need to delve into their official statements or publications. No sweat, we've got our eyes peeled for more insights.
- Holiday
- Michael Huether
- IW
- Economic Growth
- Germany
- Cologne
- Institute of the German Economy
- Head
- Marcel Fratzscher
- Funke Media Group
- Buß- and Bettag
- DIW
- Association of Bavarian Business
- The Institute of the German Economy's (IW) head, Michael Huether, is a proponent of eliminating several public holidays like Buß- and Bettag, arguing that it could enhance vocational training opportunities within the business community institution in Germany.
- Rather than relying on scrapping holidays, Marcel Fratzscher, head of the German Institute for Economic Research (DIW Berlin), suggests focusing on removing employment barriers for women, refugees, and foreign individuals as a means to resolve the labor shortage and improve vocational training in businesses.
