Tax Reform Feasibility and Budgetary Control: A Comprehensive Analysis

2023-09-01 08:29:35

However, today, other parties see that this tax reform is not feasible. The Minister of Finance speaks of a “reform à la carte”. The Prime Minister himself noted the failure in this political return, by evoking a reform which would have cost too much. For Alexander De Croo, the priority is to straighten out the budget.

For the boss of the PS, however, Belgium does have the means for such a reform. “Budgetary control amounts to around a good billion. This means that it will be necessary to fetch approximately 300 million revenue “, answered-t-il.

The tax reform proposed by the Socialists provides for an increase in low and medium wages up to 200 euros, for a total of 3 billion euros. “Find 4 billion, this is perfectly possible in Belgium. Just the taxation of capital gains alone would bring in regarding 3 billion. So a single measure would make it possible to finance this reform almost completely within the budgetary framework.“, still claims Paul Magnette.

For him, between now and the elections, the government can still take up this question, while guaranteeing a reform compensated by the tax on wealth.

Moreover, a few months ago, the President of the PS filed a petition with the European Commission to tax large fortunes, a fairly unprecedented initiative in Europe in tax matters. “There is a whole series of forms of capital that will be taxed better at European level. We are obviously stronger if we manage to do it on the scale of the 27 or a group of States within the European Union, than if each country does it separately. And there, the objective is to finance the climate and social transition“, claims the president of the PS.

The climate transition is one of the other fundamental points for Paul Magnette. The challenge is societal, but also economic. While China and the United States are implementing climate transition policies, the European Union must plan a major investment plan. And to finance it, “money, we have to get it where it is, that is to say in wealth and the great accumulation of capital“.

1693558639
#Paul #Magnette #failure #tax #reform #major #failure #government #totally #solely #attributable

Leave a Replay