A shrinking arrangement for a tool holder is provided which retains a rotary tool with a press fit in a central accommodation opening. The arrangement includes an induction-heating arrangement for thermally expanding the tool holder in the region of the accommodating opening. The induction-heating arrangement includes an induction-coil unit which is guided on a vertical guide column such that it can be displaced with its coil axis vertical and which is connected, in particular via a flexible cable, to an induction-current generator which is fixed in relation to the column, and in that arranged on the induction-coil unit is a contact switch which can be actuated manually and by means of which the supply of induction current to the induction-coil unit can be switched on and off in a freely selectable manner at least for a limited period of time.