Flemish budget in balance once more, without additional taxes

24 September 2013

"Despite the economic crisis the 2014 budget will also be in balance”, claims Flemish Minister for Finance, Budget, Work, Spatial Planning and Sport, Philippe Muyters (N-VA). “And thanks to savings in our own operations we are able to create additional scope for restoring Competitiveness The extent to which companies in one country can compete with similar companies in another country. A law came into force in Belgium in 1996 to monitor competitiveness. This stipulates that Belgian salaries may not evolve faster than the average of those in the three neighbouring countries. The Central Economic Council (CEC) performs an annual measurement to see if the objectives have been obtained. competitiveness .”

It is also his fourth successive balanced Flemish budget, and without any additional taxes for citizens. There will even be additional available policy space and by 2020 the Flemish Government wants to spend EUR 166 million a year on improving the competitiveness of Flemish businesses. Moreover, there will be extra policy incentives to benefit educational infrastructure, the disabled sector and public works, for example.

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