Belgian Government Reaches Agreement on Budget, €7.2 Billion 'Tax Shift'
In the early hours of July 23, Belgian Prime Minister Charles Michel announced that his government has reached an agreement on the 2015-2016 budget and, equally important, on a €7.2 billion "tax shift."
The government had to find an additional €978 million to balance the budget this year and to reduce the deficit to 2.5 percent, as promised to the EU. An additional €800 million will be needed for the 2016-2017 budget, and the government intends to get the budget in balance by 2018, Michel said.
Government Reaches Agreement on Budget, €7.2 Billion ‘Tax Shift’, Tax Notes International, 3 August 2015, 402