To provide concrete support to businesses affected by the floods that struck Wallonia in the summer of 2021, the federal government and the Walloon Region concluded a cooperation agreement last July. That agreement has just been endorsed today by the Finance Committee.
In practical terms, a support mechanism will be set up for employers who have suffered material damage and/or loss of income. This support will take the form of a partial exemption from payroll tax withholding, thereby easing the tax burden on affected businesses.
This measure complements the existing regional aid, ensuring a faster and more effective revival of economic activity in the hardest-hit areas.
Benoit Piedboeuf, MR group leader in the Chamber and member of the Finance Committee, stresses that “ this law shows that solidarity between levels of government in Belgium is not just a notion. On the contrary, it reflects the shared will to ensure the economic reconstruction of this part of Wallonia after this unprecedented disaster, and to deploy an effective aid mechanism that meets the reality on the ground. ”
A €97 million budget for economic recovery
The federal government has allocated a budget of €97 million to finance this aid. This amount may be adjusted according to needs, as part of consultations between the federal State and the Walloon Region.
The law also provides for a clear application procedure and a rigorous monitoring system to ensure a fair and efficient distribution of funds. The MR has called for the bill to be brought to the plenary session quickly so that it can be finally passed.