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OECD ECONOMIC SURVEYS: LUXEMBOURG 2025
Luxembourg: GDP growth projected to pick up to 2.1% in 2025 and 2.3% in 2026
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To maintain strong economic growth and public finances, policies should focus on boosting innovation and skills and securing the sustainability of the pension system.
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Close to 55% of total support for business R&D in the OECD area is provided through tax incentives
Research and development (R&D) tax incentives continue to outpace other forms of government support for R&D in most countries. Twenty-three out of 38 OECD countries provided more support for business R&D through tax incentives than through direct support instruments. In 2023, the economies providing the highest levels of government tax relief for R&D expenditure as a percentage of GDP were Portugal (0.39%), Iceland (0.38%) and the United Kingdom (0.30%), followed by France (0.28%) and China (0.24%). Looking at direct and tax support combined, Iceland (0.52%), Portugal (0.46%) and France (0.42%) provided the most financial support for business R&D relative to GDP. Across the OECD area, after increasing for decades, the gap between government tax relief for R&D expenditure and direct support remained stable in 2022 but continued to grow in China.
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