Belgium’s De Wever offers resignation after €10 billion budget talks collapse
Belgian Prime Minister Bart De Wever offered his resignation to King Philippe on Monday after his five-party coalition failed to agree on next year’s budget, VRT NWS reports. The government has been seeking €10 billion in cuts and tax increases; Reuters reports that the king could send De Wever back to negotiate rather than accept the resignation immediately.
Bottom line — King Philippe’s decision will determine whether De Wever gets another negotiating deadline or Belgium moves towards a new coalition or elections.
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VRT NWS says the deadlock pits parties seeking higher contributions from people with the highest incomes against N-VA and MR, which oppose what they call excessive taxation.
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Reuters reports that N-VA and MR have backed spending cuts, including in healthcare, while socialist and centrist coalition partners have called for higher wealth taxes.
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POLITICO says the budget still needs to pass through parliament before the end of the year, with Tuesday seen as an unofficial deadline for a deal.
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According to VRT NWS, De Wever is determined to avoid a temporary budget that would repeat this year’s income and spending month by month.
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Reuters reports that interest rates on Belgian government bonds have risen amid wider market pressure on countries seen as having weak public finances.