‘A new crisis will need €5bn in extra government savings’
A new economic crisis will force the government to find an extra €5bn in savings, according to leaked documents ahead of Tuesday’s budget presentation and quoted in the Telegraaf.
The paper says economists from the government’s macro-economic planning bureau have drawn up a ‘crisis version’ of their forecasts for the next few years.
Prime minister Mark Rutte and finance minister Jan Kees de Jager hinted last month that more savings may need to be made after 2012.
The government is currently embarked on a €18bn programme of cuts and savings.
The crisis version of economic developments sees share prices falling 15% and house prices 4.5%.
In the current situation, the CPB is forecasting economic growth of 1% next year.
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