Peter Wennink’s “Dutch Draghi” Report Calls for Urgent Reform of the Dutch Economy

Peter WenninkDealroom has a profile for this one. Try Dealroom →, the former chief executive of ASML, has delivered a stark assessment of the Netherlands’ economic outlook in a government-commissioned report that has quickly been labelled the country’s “Dutch Draghi” moment.

Asked to translate Mario Draghi’s competitiveness agenda for Europe into a national context, Wennink argues that without structural reform and sustained investment, the Dutch economy risks prolonged stagnation.

The report calls for cumulative investments of roughly €150–175 billion by 2035, focused on technology, infrastructure and productivity. These include digital infrastructure, AI data centres, advanced manufacturing and energy systems. The scale of the figure is intended to underscore urgency rather than serve as a fixed spending plan.

More central to Wennink’s argument are the constraints that limit the impact of capital. He points to grid congestion, with thousands of companies waiting for electricity connections, and to a labour market that prioritises job protection over mobility and skills. The report proposes a shift from traditional job security to “work security”, with greater emphasis on reskilling, flexibility and faster labour-market transitions.

The recommendations extend into politically sensitive territory. Wennink advocates shorter unemployment benefit periods, greater freedom for companies to adjust their workforce and measures to resolve nitrogen regulations that are holding back construction and industrial investment. He also argues that, despite public resistance, the Netherlands must remain open to skilled migration to support its technology base.

Underlying the report is concern about weak productivity growth and the increasing weight of low-productivity sectors in the economy. Wennink warns that growth above current forecasts of around 0.5% a year is becoming harder to achieve, while the relocation of major companies highlights a less favourable business climate.

Published as coalition negotiations continue, the report is already influencing the debate on economic policy. Its significance lies less in any single proposal than in its framing: competitiveness, Wennink argues, is no longer a marginal issue but a question of national priorities. Whether the political system can move from diagnosis to execution remains the central test.

Sources:
Rapport Wennink
Reuters
NL Times
IO+
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J.V.