Editorial: Another tough year

POSTED: 06/1/14 11:40 PM

The 2014 budget was cut to the bone, as Finance Minister Martin Hassink expressed it this week and it looks like 2015 will become another tough year.

State revenue will increase with a projected 1 percent to around 431 million guilders, but the plans the seven ministries have for the new budget year amount to 475 million.

And so, elections or not, 44 million guilders worth of initiatives for 2015 have to be put on ice in a joint effort from all ministries.

All this while it remains to be seen how the 2014 budget will hold up, after the International Monetary Fund found tax revenue floundering due to declining compliance, while the government says it is making efforts to increase compliance.

The step towards a consumption-based taxation system – as opposed to income-based taxation – would most likely do a lot to improve the state’s finances. So what are we waiting for?

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