Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2022 08 31T105137Z 2 LYNXMPEI7U0G7 RTROPTP 4 NETHERLANDS ECONOMY - Business Express
FILE PHOTO: Shoppers pass by under sale signs at a Vroom & Dreesmann (V&D) department store in Utrecht, the Netherlands January 19, 2016. REUTERS/Michael Kooren

Dutch to spend $16 billion to cushion effects of inflation -media


AMSTERDAM (Reuters) – The Dutch government plans to spend around 16 billion euros ($15.97 billion) next year in an effort to help people pay rocketing bills for energy and food, Dutch media reported on Wednesday.

The higher expenditures will be mainly covered by hiking wealth and corporate taxes, with a special levy on oil and gas companies whose profits have soared during the energy crisis, broadcaster RTL said, citing government sources.

Prime Minister Mark Rutte said early on Wednesday his government coalition had agreed in negotiations that ran well into the night on ways to combat record-high inflation.

He declined to comment on details of the plan, which will be presented with the government’s 2023 budget on Sept. 20.

Measures will mainly benefit people on lower incomes, RTL said, through a 10% increase of the minimum wage and higher income-related subsidies for health care and rent.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

The tax rate for incomes up to around 37,000 euros per year will be lowered, while cuts in energy and fuel taxes introduced this year have been extended into 2023.

Inflation in the European Union member country reached 13.6% in August, the highest level since measurements based on a European standard for consumer prices were introduced in 1996.

($1 = 1.0017 euros)

 

(Reporting by Bart Meijer; Editing by Mark Heinrich)

Recent Post: