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More cuts on the cards, as government ponders €4bn package

Wednesday 27 February 2013

The government is poised to take extra measures to raise a further €3.5bn to €4bn for the treasury next year, according to media reports on Wednesday.

RTL news says sources confirm a new package of tax increases and other measures are on the cards to keep the Dutch budget deficit within eurozone limits.

Other sources say finance minister Jeroen Dijsselbloem will talk with all parliamentary party leaders on Wednesday in an effort to win wide support for the expected extra cuts.

On Thursday, the government's macro-economic think-tank CPB will publish its new forecasts, which are expected to show a further rise in the budget deficit. Earlier this week, the European Commission said the Dutch deficit will reach 3.6% next year, well above the eurozone 3% maximum.


However, the leaders of the parliamentary parties of both the VVD and Labour oppose any further cuts this year.

Labour leader Diederik Samsom is quoted by news agency ANP as saying the current recession can be considered one of the 'exceptional circumstances' which allow member states to break the budget deficit rule.

And VVD's parliamentary chief Halbe Zijlstra told the Volkskrant on Wednesday he did not favour extra measures to reduce the deficit. 'You cannot solve this by increasing the burden of taxes,' he said.

© DutchNews.nl


Readers' Comments

How about totally destroying the Dutch economy, as you worship the neo-liberal EU zombie technocrats, you stupid politicians! Once the destructive austerity cuts kicked in last year, the economy went into freefall. The idea is to repeat this lunacy? Austerity has been a total disaster everywhere it's been tried -- total as in no winners, no positives, no where. This is a banker/speculator-fueled Depression. Read Keynes for a way out. Oddly enough, the US, source of this world nightmare, HAS and, despite Republicans, no austerity but now growth.
One would have thought the PvdA was smarter than this...

By Tomword | 27 February 2013 9:57 AM

Money doesn’t disappear into thin air, but it does disappear in off shore accounts and through creative manipulations by banks and stock markets. Nobody ever asks where all the money went as if it was some sort of natural disaster that spirited it away. You want money to offset the deficit? Go to the source! Claw it back from the crooks that stole it! Dijsselbloem is obviously under pressure from his EU masters and does not have the Dutch population’s interest at heart. The only jubilee they should have this year is a debt jubilee….otherwise it’s all going down the drain.

By Al | 27 February 2013 10:25 AM

More cuts on the cards, as government ponders €4bn package. Reading today from your financial minister that the government will not make the same mistakes in future. He inferred they make them differently in future.

By Terence Hale | 27 February 2013 12:55 PM

@MPs: You do know that the European Commission will have a lenient stance this year especially when others are worse, do you? Implementing measures just to be able to preach superiority is beyond stupid. Considering it's only 0,6% off, it becomes even harder to comprehend...

By Neo | 27 February 2013 6:12 PM

We are not paying anymore.

By Jo Smith | 28 February 2013 7:06 AM

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