Media

According to a study by Nicolas Marques of IEM, the underdevelopment of retirement savings leads to an annual loss of €1,540 per worker and retiree in Belgium. This amounts to a total annual cost of €11 billion and significantly impacts future pensions.

A recent article in Sudinfo leaned heavily on research conducted by Institut économique Molinari. The report found that the undercapitalisation of retirement savings is causing an annual loss of €1,540 per employee and retiree in Belgium. Nicolas Marques, Associate Researcher at IEM discussed how this is an issue for workers too, and how current employees are certain to be affected so long as this trend of under-funding and short-termism continues.

A recent national radio show featured a discussion with Juan José Toral, Research Manager at Fundalib discussing their new books proposing several significant changes to improve economic freedom. From lifestyle regulation and tax reform to energy generation and pensions, these suggested reforms promise to make real headway into improving Spanish policy.

Fundalib’s report has been covered in El Mundo. It discusses how the Minister of Finance, has significantly increased tax revenue by refusing to adjust the Personal Income Tax, artificially raising tax brackets, a move criticised by the Minister of Labor. This fiscal pressure has steadily increased over the past decade, reaching 38.4% of GDP in 2021, exceeding the OECD average.

Member think tank KEFIM’s comments about the worrying state of pension capitalisation have been widely covered in Greek press. They find that the loss of income from the lack of a funded pension system in Greece is estimated at €770 per year per capita. If Greece had an equivalent system to the rest of the OECD, its annual return would correspond to a boost of around 3-4% of GDP.

The article discusses budgetary errors in key French sectors like education, police, and healthcare over the past 50 years, challenging the notion of insufficient funding often cited in debates. IEM members Pierre Bentata and Nicolas Marques analyse public spending curves, revealing a different narrative about resource allocation in these domains, suggesting a misalignment between budgetary increases and actual effectiveness.

Cécile Philippe, President of the IEM and columnist for Echos described how after years of decreasing investment, an explosion in energy prices and detrimental tariffs has forced nuclear energy to begin a resurgence. Despite Germany still resisting, nuclear reactors are currently being built in 20 countries.

Fundalib (The Foundation for the Advancement of Freedom) were featured in an El Mundo Financiero article last month covering their new book proposing five proposals to recover economic freedom in Spain. The book discusses essential reforms for the agricultural and energy sectors, lifestyle regulations, taxes and the pension system. They offer holistic approaches and specific policies drawing on lessons learned from other sectors and countries.

The article delves into the shift from regulated to free-market energy supply in Italy, focusing on gas and electricity. It highlights that from January for gas and July for electricity in 2024, the regulated market will only remain applicable to domestic customers deemed ‘vulnerable,’.