Yuriko Backes

Yuriko Backes – the new minister of finance

What are your priorities as Minister of Finance?

As Minister of Finance, a natural priority is to ensure that our public finances remain sound. This is because we want to prepare our country for the future by focusing on sustainable development and investing in digital development. This is how we guarantee the qualitative growth of tomorrow that we need to secure our prosperity. With sound public finances and qualitative growth, however, we also secure our “Triple A”, which continues to be an important guarantor of our attractiveness.

When we speak of attractiveness, I am of course thinking of our financial centre. For me, it remains a priority that the financial centre remains globally  competitive. Especially in an environment that is constantly evolving. Innovation in the financial sector must therefore be further strengthened, especially in areas such as sustainable finance and fintech, where Luxembourg has achieved a lot in recent years. We must continue to provide a stable and attractive framework that is tailored to the needs of the industry.

What are the big issues in the near future?

I see a number of issues that are very important for our country and the people. In the coming weeks and months, we will continue to deal with the issue of purchasing power. We have achieved a lot in this area in recent years and will continue to look at how we can increase purchasing power.

European and international issues are also on the agenda, such as the implementation of the OECD’s international tax reform. Luxembourg has been actively involved in these negotiations from the beginning because we need a modern and fair tax system to which everyone in the world contributes. But the most important thing is that the same rules apply to all countries (level playing field). In doing so, Luxembourg can bring its strengths to the fore more effectively.

Why the DP?

The Democratic Party stands for liberal, but also for social and sustainable policies. This combination is very important to me. The DP is a party in the middle of society that pursues responsible and far-sighted policies – always putting people at the centre. So, on the one hand, there are the liberal and progressive values that I stand up for. On the other hand, the DP has concrete and pragmatic solutions to tackle the major challenges of our time at national, European, and international level. So that we can continue to live well in Luxembourg both tomorrow and the day after tomorrow.

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