Figure 11 : Labour market reform - labour supply
effect
Note: Growth rate of labour supply relative to base case
Source: Velfærdskommissionen (2005d)
Figure 12: Labour market reform - budget effects
Note: Change in the primary balance (relative to GDP) relative to the base case
Source: Velfærdskommissionen (2005d)
6.3 Reform package
The Welfare Commission (Velfærdskommissionen (2005d)) has recently pro-
posed a reform package to solve the sustainability problem. The main thrust
of the package is to increase labour supply and employment so as to provide a
sound financial basis for welfare arrangements without resorting to tax increases
or savings. The package has the following main ingredients; i) a retirement re-
27
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