The Arizona government will need to renegotiate a revised multi-year budget plan in the coming weeks to address mounting deficits, according to Finance Minister Jan Jambon (N-VA), speaking on Saturday to *L’Echo*.
“It’s unrealistic to think that with this coalition, we can agree on a budget without considering additional revenue,” Jambon warned, calling the budgetary challenge “enormous.”
The government will need to craft a supplementary multi-year financial plan. “There’s no magic formula. Balancing a budget requires three things: reforming, saving, and taxing,” he explained.
As for the approach, Jambon noted: “We have a formula in the coalition agreement: two-thirds of the effort through reforms and one-third through discretionary measures. Of that latter portion, only a third can come from new taxes, meaning one-ninth of the total. We’ll see if that formula can be applied again.”
Meanwhile, Georges-Louis Bouchez argued on Friday that the federal government must make an additional budgetary effort of €20 billion on top of the €23 billion already agreed.
