Budget leaks: €430m for tech industry, changes to carbon tax

The caretaker cabinet plans to inject €430 million into the Dutch tech industry as a strategic investment, broadcaster NOS said on Friday, citing cabinet sources.

The investment is one of a string of measures the government is due to announce next Tuesday when it publishes its 2026 spending plans.

Some €230 million will go to the semiconductor industry via a European fund known as IPCEI, or Important Project of Common European Interest, NOS said. A further €200 million will support new companies scaling up via the European Tech Champions Initiative (ETCI).

Much of the funding, according to NOS, will come from the economic affairs ministry’s national growth fund, which was launched in 2020 with €20 billion and has not yet been spend.

The Telegraaf, meanwhile, said the cabinet is also planning to “bury” the carbon tax on heavy industry, which has been criticised by companies already facing high energy bills in the Netherlands.

While the tax will not be scrapped, its impact will be softened through other subsidies and tax changes, the paper said, citing sources close to the cabinet.

This will enable the Netherlands to avoid a penalty from Brussels for not implementing the tax as promised in 2020.

The government will present its 2026 spending plans on Tuesday, but as ministers are only minding the shop until the election on October 29, they are unlikely to make any controversial or major new policy announcements.