Thursday 20 January 2022

Cabinet policy risks saddling future generations with debt: CPB

Billions will be spend on combating climate change. Photo:

The new Dutch government risks saddling future generations with massive debt because of its spending plans, macro-economic planning agency CPB said on Tuesday.

It is ‘not plausible’ to say that spending billions on solving climate and nitrogen will be one-off costs, the advisory body said. And that means the government’s finances will be worse than forecast, significantly increasing the financial burden for future generations.

Based on this assumption, the CPB puts government debt at 92% of GDP in 2060, at current interest rates, well up on the 56% that the agency forecasts for 2025.

The CPB points out that its calculations are only preliminary, because a number of the new government’s plans still have to be worked out in detail.

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