Plan to reduce sales commissions for real estate agencies?

To counteract the price explosion on the housing market, the Minister of the Economy is launching an initiative to reduce the commission on sales for real estate agencies. The rate currently stands at 3%. Fayot explained that he wants to reduce these commissions through a Grand-Ducal Regulation.

Regarding the debate about a vaccine mandate, Fayot expressed his annoyance over the fact that many present such a mandate as a "miracle cure". The Minister stressed that it is important to keep fundamental rights in mind and to question the proportionality of such a measure. Fayot stated that his party, the Luxembourg Socialist Workers' Party (LSAP), would nevertheless support the decision to introduce a mandate that would be limited in time.

As for the 33 hectare plot of land in Roost on which Google wants to build a data centre, the Minister stressed that he "still believes" in the project, adding that it would "still fit well" with Luxembourg's economic strategy.

In the case of the former Galvalange factory in Dudelange, which employs about 250 people, Fayot stated that he knows Sanjew Gupta's group Liberty Steel "is in turmoil". Nevertheless, the Minister stressed that he wants to reassure the staff that every effort is being made to maintain the site.

Fayot also expressed optimism regarding the situation of the staff of the glass manufacturer Guardian. Despite the fact that the Bascharage factory will close down a year earlier than planned. Currently, Fayot explained, the management is waiting to see how the situation develops on the energy market to decide whether to invest again in Bascharage.

According to the Minister, the economic situation is currently being impacted by the rise in fossil energy prices, material supply problems, inflationary pressure, and problems in recruiting the necessary people and companies. Fayot compared the current situation to "a storm" through which the economy must go now.

Regarding tax policy, Fayot stated that a property tax reform as well as a speculation tax on vacant lots and housing will be introduced in this legislative period. The Minister added that the LSAP wants to reintroduce the taxation of large private fortunes, which was abolished in 2005. This proposal will be part of the LSAP's next election manifesto, Fayot announced.

Although it is theoretically possible for a government member to become LSAP party president, Fayot stated that he does not want to take over the post again. In any case, Fayot stressed, a woman will one of the party's two co-leaders, and it is highly likely that this person will be MP Francine Closener.

At the moment, the LSAP is working on its election manifesto for 2023. The LSAP, according to Fayot, is a party that is "committed to the cohesion of society" and aims to ensure that "everyone in the country can prosper". The main election goal of the LSAP is to be the party to appoint the Prime Minister in the new government, Fayot stated.

Speaking about the Alternative Democratic Reform Party (adr), Fayot compared the opposition party to the German 'Alternative für Deutschland' ("Alternative for Germany" - AfD) and other far-right movements, such as the ones led by Marine LePen or Eric Zemmour in France. The Minister described the adr as an "opportunistic and by now openly far-right party" that is "looking for scapegoats" to blame for the country's problems, and that "pursues Identitarian policies".