Friday , March 31 2023

3rd Tuesday in September: financial outlook to 2015

Traditionally, on the 3rd Tuesday of September the King opens the new year for the Houses of Representatives. Subsequently, the finance minister Jeroen Dijsselbloem,  presents  in the the financial outlook for the next year.

King and Queen greet the people after their ride in the golden cariage
King and Queen greet the people after their ride in the “golden carriage”

“Cautious concerning additional spending, the burden on citizens and businesses, and statements about the future,” said Dijsselbloem, Finance Minister. “Whoever sees the numbers comes at the conclusion that things are improving in The Netherlands. However, they do not depict an optimistic picture.
The aftermath of the crisis will still be  felt in 2015. Many people will not see a significant improvement in the economy in their pockets. He referred to the international uncertainties example Ukraine and the Middle East. “The risks are still great because the recovery of our economy remains still fragile.”
The minister speaks of a budget which that is developed to provide a balance between restoring purchasing power and  the public finances.

“The outlook for exports, investments and internal consumption shows an upward trend. However, the result is at most a small plus. Especially the high unemployment is worrisome,” said the minister. “The priority of the government is on further recovery and job creation.”

In his speech in the Second Chamber Dijsselbloem said that the ambition of the government is to create 100,000 jobs through the lowering the tax on labor by 15 billion. This includes 3 to 5 billion that are required  to correct adverse income effects.

This tax reform should not only provide jobs, but also make the system simpler. However, it is unclear how and when this can be achieved. This is partly dependent on economic developments.
Recently several plans and economic predictions had already leaked to the press. Defense gets structurally 100 million euros more. Furthermore, the AIVD and the Public Prosecution will receive

Speaking to RTL news after Dijsselbloem’s presentation, prime minister Mark Rutte said the theme of the budget is “the need to keep on track in turbulent times”.

‘We need to prepare ourselves for international threats,’ he said. ‘We need to take account of the fact that bad times might come.’

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