Editorial: Fairy tale

POSTED: 05/16/12 1:04 PM

That there was something fishy about the 2012 budget was clear to all who wanted to see for quite some time. Now the financial supervisor Cft has put its finger on the sore spots and exposed outgoing Finance Minister Hiro Shigemoto’s handiwork as a fairy tale.
The 21 million guilders projected as revenue from rental tax income on foreign owners of real estate simply does not exist. The 17 million guilders needed to pay civil servants their cost of living adjustment is not there either, while the government still has to come up with an alternative for the 1 million guilders succession tax revenue the parliament wants to take out of the budget.
All in all: a gaping hole of 39 million guilders, or $21.666 million. In dollars, the devil seems to be in the figures behind the period.
The government has so far not reacted to the Cft’s urgent request to present a budget amendment. All the promises and all the intentions of doing a better job on the financial front have fallen apart, and the new government is left to pick up the pieces.

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