"The German economy is shrinking, the energy crisis and inflation are reducing real incomes, and industry has been limping along for years. At the same time, longer-term trends such as demographic change, the targeted decarbonization and comparatively hesitant digitization are calling into question Germany's competitiveness as a business location. Comprehensive and swift action is needed now. A supply-oriented policy is necessary. On behalf of the Hessian state government, the Zukunftsrat Wirtschaft has developed concrete, practical recommendations for action for our state. This certainly serves as a model for others," said Prof. Volker Wieland as co-chairman of the panel.
The package of measures should help to better seize the opportunities of digitization, reduce bureaucratic obstacles, set framework conditions for more innovation and growth, drive forward decarbonization pragmatically, efficiently and effectively, improve energy supply and efficiency, sustainably strengthen education, training and continuing education, exploit domestic workforce potential more and attract skilled workers from abroad.
"Hessen as a business location has strengths as a central transportation, data, trade and financial center with an export-oriented industry. However, competition and structural change cannot be avoided. It must be used to expand existing strengths and enable the development of new ones. To do this, Hessen needs an efficient, service-oriented administration, pragmatic regulation and an investment-friendly, innovation-promoting, technology-open regulatory framework that protects competition. The Future Council's report provides a wide range of starting points for achieving these goals even better," Wieland continued.
The approximately 430 recommendations for action and proposals in the Hessian Future Economic Report are aimed at improving the economic framework conditions in order to generate economic growth and increase the competitiveness of the Hessian economy.
Among other things, the Council proposes to the future state government:
- make the state more efficient and service-oriented,
- to expand the network infrastructures of the future in a needs-oriented manner,
- exploit all domestic and foreign potential to meet the demand for labor and skilled workers, and
- increase the innovative capacity of the Hessian economy and its resilience.
"We will continue to live and work in high prosperity and security in the future. To achieve this, however, we must tackle structural reforms to make not only Hesse, but all of Germany, crisis-proof and future-proof. We can only do this with a growing economy within the framework of the social market economy. The constructive proposals of the Hessian Future Economic Council are exemplary in this respect," said Minister President Boris Rhein.
The politically independent Hessian Future Economic Council was founded at the first Hessian Economic Summit last March under the chairmanship of Dr. Marie-Luise Wolff, CEO of Entega AG in Darmstadt, and Prof. Volker Wieland, Managing Director of the Institute for Monetary and Financial Stability (IMFS) at Frankfurt's Goethe University, and was tasked with developing recommendations for action for the state government in order to set the political-economic course for a modern Hesse of tomorrow.
You can download the final report of the Hessian Future Council here