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The Netherlands should sharply increase technology investment and shake up its labour market to safeguard the EU country’s long-term prosperity, a government-commissioned report said.
Friday’s recommendations on how to revive weak productivity growth by former ASML CEO Peter Wennink echo those on European Union competitiveness in the 2024 Draghi report.
Draghi called for spending 150 billion euros ($176 billion)over the next decade to attract investment in projects from AI data centres to drones and small modular nuclear reactors.Â
The report by Wennink, who in 2023 described the Netherlands as becoming “fat, dumb and happy”, is expected to influence ongoing coalition talks on forming a new Dutch government.
Rob Jetten of the centrist D-66 party, who as election winner is in position to become Dutch prime minister, told news agency ANP he would like to “grab the report with both hands”.Â
Wennink, who stepped down as ASML CEO in 2024 after a decade in which the computer chip equipment supplier became Europe’s largest technology company by market value, was asked to advise the government in part because of his reputation for bluntness.
His report said achieving annual economic growth better than current forecasts of 0.5% is becoming unattainable as low-productivity jobs at “staffing agencies, slaughterhouses and cleaning companies” make up a growing share of the economy.
Major Dutch companies including Shell and Unilever have shifted operations out of the Netherlands in recent years, citing a hostile business climate.
Wennink’s proposals include paying farmers to close dairy farms to solve a long-running dispute over nitrogen emissions that is hampering construction, an issue that affects ASML.
He also said that despite the country’s anti-immigrant mood, it should welcome skilled migrants. Meanwhile, companies should have more freedom to fire workers, and paid unemployment benefits should be cut to one year from two.
($1 = 0.8531 euros)
(Reporting by Toby Sterling; Editing by Alexander Smith)
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