Good afternoon. Katie Westwood back in the saddle today.
As Tim Marshall has written, all countries are at the mercy of their geography. Belgium was blessed with an abundance of coal, but it is wholly reliant on overseas imports for that most coveted of commodities, crude oil.
Although it has taken steps to diversify its oil supplies in recent years, and is not reliant on oil from the Persian Gulf, Belgium remains deeply vulnerable to global price shocks.
Amid the ongoing turmoil in the Middle East, the predicted oil catastrophe has not yet materialised. But analysts warn against complacency, arguing that oil prices will soon rise "convulsively" as global stockpiles go down.
Our News Editor Ugo Realfonzo has written about Belgium’s approval of an "oil emergency plan" to secure its supplies. It currently has 96 days’ worth of petroleum stocks, above the EU’s 90-day requirement.
But is this all too little, too late? Only time will tell. I would hazard a guess that there are people within Belgium’s Federal Government quaking in their boots at present over what the autumn and winter might bring.
Now onto a favourite topic among many readers of The Brussels Times: Belgium’s tax system. We look at how much a Belgian taxpayer can expect to take home from a €100,000 annual salary.
The results would make Ronald Reagan hallucinate – but in the interest of balance, I should say these eye-watering taxes do help maintain a remarkably good welfare state.
Staying with salaries, there’s bad news this week for anyone wanting to find out how much their colleagues are earning. The Federal Government has asked the EU for a six-month extension to implement a directive on pay transparency aimed at reducing the gender pay gap.
The directive has caused all kinds of ructions within government, with "good pupil" Belgium – which has the second smallest gender pay gap in the EU – criticising the extra admin involved in implementing the directive, and expressing concerns about data privacy. Find out more here.
Elsewhere, regular contributor Kristina Chetcuti responds to a reader’s question about how to help teenagers deal with exam stress. She gives sage and considered advice on soothing frayed nerves – including how to adapt teenage diets for exam season.
Even glancing at the photos accompanying Kristina’s article gives me the heebie jeebies, and I wish all the students out there the best of luck with their exams.
As always, if you have any comments, tips or suggestions to improve our coverage, please feel free to drop me an email at k.westwood@brusselstimes.com.
Bye for now!
Belgium in Brief is a free daily roundup of the top stories to get you through your coffee break conversations. To receive it straight to your inbox every day, sign up below:
1. Belgium to secure oil reserves with ’emergency plan’ amid Iran war turbulence
"Recent geopolitical crises have demonstrated the importance of preparing our country for all possible scenarios," said Belgium's energy minister. Read more.
2. How much do you take home from a €100k salary in Belgium?
The country ranks last among its European neighbours in terms of tax burden on six-figure earnings. Read more.
3. Pay transparency: Belgium asks EU for extension on implementing new rules
Delays to the implementation of transparency rules mean you won’t be able to find out your colleagues’ salaries just yet. Read more.
4. Belgian airspace strike forces hundreds to sleep at Brussels Airport
Operations returned to normal on Wednesday morning following an agreement, although hundreds of passengers spent the night at the airport waiting for their flights to be rescheduled. Read more.
5. Women in Brussels ‘filmed without their knowledge’ by men wearing Meta smart glasses
Experts in Europe warn that these devices are used to record strangers without their consent, possibly breaching EU law. Read more.
6. Dear Kristina: How do we help teenagers survive exam season in Belgium?
As parents, we cannot sit exams for our children – but we can help ensure that their bodies are well looked after so that their brains can function at their best.
7. ‘Groundbreaking’ ruling: Banks in Belgium must immediately reimburse phishing victims
Banks have traditionally argued that customers who "voluntarily" transfer their money to scammers have committed "gross negligence". Read more.
