Recently, Kevin Spiritus, Assistant Professor of Public Economics at Erasmus School of Economics, gave his view on Belgium's budget problem in an interview with Flemish radio station Radio 1.
Belgium's budget deficit is significant. Yet, according to the Assistant Professor, it is necessary to focus on the long term. After all, there are major issues at stake such as ageing and the climate problem. Defence also needs more budget, especially because of the current war in Ukraine. However, there is still nowhere near a budget for this, according to Spiritus. Therefore, according to him, major savings will have to be made.
According to his prediction, a new tax will be introduced in Belgium on the one hand, and substantial savings will have to be made on the other. The gas and energy crisis is making it increasingly difficult for many people to make ends meet. However, what we should absolutely avoid, according to Spiritus, is giving people money. After all, this will certainly not lead to more gas or energy, but will only result in inflation.
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You can listen to the full episode from Radio 1, 11 October 2022, here.
