As the federal budget conclave gets under way, David Clarinval, Deputy Prime Minister and Minister for Employment, wanted to restate an obvious truth: you cannot fix a budget simply by cutting spending or raising taxes. In an interview with Le Soir alongside FEB chief Pieter Timmermans, he argues that growth should become the “missing piece” of the budget equation, on a par with savings and decisions taken but not yet implemented.
The figures justify this priority. Since 2000, growth has been slowing across Europe, and Belgium, long more dynamic than its neighbours, no longer has that advantage. Additional growth of 0.5% by 2029 would bring in €1.5 billion, a realistic goal thanks to concrete measures already submitted to coalition partners.
These include an additional one billion euros in reductions to social security contributions to ease labour costs, administrative simplification, and a tax framework that further rewards risk-taking. Another issue: better channelling Europeans' savings towards financing our own companies. Today, 40% of European unicorns turn to American funds to grow, partly fuelled by those same savings.
On business subsidies: there is no question of touching them. Exemption from withholding tax for researchers, night and shift work: these mechanisms support competitiveness. Challenging them would, for instance, penalise the pharmaceutical sector, which accounts for 15% of Belgian exports. David Clarinval also reaffirms his opposition to a VAT increase, which would cost households and businesses alike without delivering the hoped-for budgetary effect.
The aim is therefore to put finances in order without sacrificing the economy, to support those who set up businesses and create jobs, and to send a positive signal to our companies