Brussels Government looking to save €130 million in budget

Brussels Government looking to save €130 million in budget
Credit: Belga / Thierry Roge

The Brussels Government will hold its budgetary meetings on Thursday and Friday, with the goal of saving up to €130 million.

Sven Gatz, Brussels-Capital Region Finance Minister spoke to Belga News Agency outlining further details on the upcoming budgetary discussions.

On the one hand, the minister stated that financial legislation that provides the area with revenue generated by both the Federal Government and Brussels' own taxes will provide additional money to the Regional Government. The latter of which (taxes) have been increased recently, particularly with regard to gift and registration duties.

On the other, the additional expenditure for the indexation of staff salaries and subsidies, as well as increased costs due to the war in Ukraine and the resulting energy crisis, means that the upcoming budget will look to save the Brussels Government between €120 and €130 million.

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Furthermore, the government is looking for other cost-cutting measures such as slowing down certain investments, while also seeking to support businesses that are now facing the brunt of the energy crisis. To that end, "we are also looking at what Wallonia and Flanders are doing," Gatz stated.

In any case, an agreement must be reached by 20 October, when Minister-President Rudi Vervoort is scheduled to deliver his annual speech on regional policy to the Brussels Parliament.

"The goal is to establish the budgetary framework on Thursday and Friday so that we can land it next week," the regional minister concluded.

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