Minister Cocke sees setback ahead of spring memorial
The debate on the spring commemoration will begin next week in the Cabinet. Minister Sigrid Kak (Finance) will then address the ministers on the current budget. He said he mainly saw the backlash on Friday. “We live in very uncertain times.”
De Nederlandsche Bank (DNB) president Klaus Knott warned this week that the budget deficit is too high. He sees tax increases or cuts as options. The exam is in the cabinet. “I welcome his caution,” Deputy Prime Minister Gag said during a weekly press conference where she replaced Prime Minister Mark Rutte.
There is a lag in finances. Kak pointed out that the cabinet should compensate the people of Groningen for the earthquake damage. The Institute for Mine Damage Groningen (IMG) said this week that 5 to 10 billion euros will be needed in the coming years to further mitigate the damage here.
But it’s not just a rope for the Treasury. Due to the rising interest rates, Gok is losing more money to pay the national debt. “It is very important to re-apply the rules of the budget. We cannot live in debt,” he stressed.
She sees uncertain economic times ahead. One of the reasons for this is the problems in the banking sector. In the United States, some regional banks went bankrupt, while Credit Suisse faced problems in Switzerland. The bank was acquired, but the uncertainty still lingered.
Caugh will next week make it clear to ministers what action needs to be taken. “There is a great task ahead.” That doesn’t mean she’s thinking of saving. “Austerity is not an end.” He pointed out that “many” specialist sectors are suffering from underspending. That means they spend less money than planned.
The spring memorandum must be submitted to the House of Representatives by June 1 at the latest, but Cocke hopes to have gone a long way by April 21. Then the chamber’s May vacation begins.
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