After 30 intense hours of negotiations, the Tripartite agreement will formally be signed on Wednesday at the Ministry of State.

Everything has been scheduled down to the minute: as soon as (a jet-lagged) Prime Minister Xavier Bettel returns from his trip to the United States and Japan, the agreement will be signed at 1.30pm by government representatives, the Luxembourg Employers' Association (UEL), and the trade unions.

After the procedure, Bettel will appear before Members of Parliament at around 4pm to provide further details. Each parliamentary group and political group will have ten minutes to share their point of view on the agreement.

On Friday, the government council will consult on the laws that will implement the tripartite agreement, with a financial scope of almost one billion euros and measures that should bring down inflation so that only one index tranche will be due in 2023.

The index postponed this summer will be paid in April. The tripartite agreement provides for the freezing of the price of electricity at its current level and the capping of the price of gas at +15% of its current price.

A 15 cent reduction in the price of heating oil has also been decided, as well as the extension of the cost of living allowance and the energy bonus until the end of 2023, the increase in the minimum wage and the one percent reduction in VAT.

Read more here:Unprecedented deal presented after three days of negotiation

In addition, the special parliamentary Tripartite committee will be reactivated to analyse the laws that will be drafted to transpose the agreement. It will also continue to do so during the new session of the Chamber, which starts on 11 October. The chairman of this commission is the chairman of the DP parliamentary group, Gilles Baum, assisted by the co-chairman of the CSV group, Gilles Roth, and the chairman of the Greens' fraction, Josée Lorsché.