A number of economic and fiscal policy considerations can be derived from this. First of all, this includes substantial and continuous progress in the labour market. I believe that a reliable moderate wage policy, a differentiation of the wage structure and a greater flexibility of labour input remain indispensable in this context.
In addition, fiscal policy has to provide enterprises and households with greater planning certainty and better incentives for performance. A more equal distribution of burdens between the generations is also essential, as are stimuli to increase private provisions for old age in order to create a third pillar alongside statutory and company pension systems.