Minister of Finance Van Peteghem (CD&V) puts the brakes on skimming off surplus profits from energy companies, Van der Straeten sticks to proposal | Inland

There has been talk of skimming off the excess profits of energy producers for some time now. More than a week ago, Europe proposed such a mechanism. Minister Van der Straeten then put his own proposal on the table. It would be worth 4.7 billion euros: 1.8 billion euros this year and 2.9 billion euros next year, although the revenue for 2023 depends on how the market evolves.

The green proposal goes a lot further than what Europe had proposed, although it is invariably heard that Europe also allows this. For example, for electricity companies, all income above the limit of 130 euros per megawatt hour would be taxed at 100 percent. Europe proposes a ceiling of 180 euros per megawatt hour. In addition, it would apply for two years, while the European regulation is for seven months.

Minister of Finance Van Peteghem clearly wants to go less far than his colleague from Energy. Entering 16 Rue de la Loi before the start of the budget conclave, he noted that the proposal from Europe provides a “very clear legal framework” and that he is prepared to skim off excess profits within that framework. “I have always said that if we put something on the table, we must ensure that it is not destroyed by a court within two weeks or two months,” said Van Peteghem. That would bring in a lot less money – money that the government could use to support the budget.

“The proposal I submitted last week respects the European framework. The European framework is a mandatory minimum framework. It allows Member States to go further. I confirm what I said in parliament: it is now a matter of political will,” said Minister Van der Straeten. “On the one hand, there are companies that make extraordinary profits and on the other hand, there are families who can no longer pay their bills. I am on the side of the families.”

Van Peteghem also wants the policy statement that Prime Minister Alexander De Croo reads in the House on Tuesday to talk about his tax reform. Before the summer, Van Peteghem came up with a blueprint for such a reform. “The fiscal reform is on the table. The discussion is underway within the government. I have always said that this budget should also be about the reforms we can do in the coming period,” it said. “Today we see that people have the feeling that work no longer pays. We have to ensure that work effectively pays.”

There are also many proposals on the table, such as abolishing the housing bonus for a second home. This could save the government up to $100 million. The government also wants to adjust the time credit, which you can take to take care of your children until they are eight years old. The government wants to limit this to five years. This could yield 12.5 million euros per year.

The energy discount would be extended and a bank tax and digital tax would be imposed on banks and internet companies such as Google respectively.

Federal budget in last line: these tax increases are on the table (+)