Bos firm on pay, no deal on redundancy

Finance minister Wouter Bos has no intention of amending his plans to tackle top peoples’ pay, the minister told MPs on Monday night.

Labour minister Bos wants to limit the tax relief on pension premiums and increase the tax on homes worth over €1m in order to temper top level executive pay.
But Christian Democrat MPs and much of corporate Holland are opposed to the scheme. The CDA has drawn up its own proposals and says higher taxes on golden handshakes and bonuses are a better way of tackling ‘exhorbitant’ pay packages.
Last week, Shell, Akzo Nobel, Unilever and Philips all wrote to Bos urging him to rethink. They argue the plans will reduce the Netherlands’ popularity as a business location.
Sources have told the Financieele Dagblad that social affairs minister Piet Hein Donner is willing to trade in his controversial redundancy reform plans for Bos’s tax hikes. Labour MPs have threatened to cause a cabinet crisis if Donner presses ahead with his plans.
Bos told MPs a deal was ‘not likely’ but pointed out Donner had not yet made a formal proposal.

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