Household spending power fell nearly 3% in second quarter

Dutch households had 2.8% less to spend between April and June than they did in the same period last year, according to new calculations by the national statistics office CBS.


This is the sharpest drop in spending power since the start of the economic crisis in 2009, the CBS said.
The main cause of the drop is rising unemployment and the fact pay rises have not kept pace with inflation. Inflation is currently running at around 2.3%.
On Thursday finance minister Jan Kees de Jager said plans to more than double the tax on insurance will also cut spending power by a further 0.25%.

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