'Give billions in excess energy profits back to the people,' says PS leader Magnette

'Give billions in excess energy profits back to the people,' says PS leader Magnette
Credit: Belga / Laurie Dieffembacq

The Federal Government can skim off €1 billion in excess profits in the energy sector and give that amount back to the people in the form of a basic energy package or an expanded social tariff or “middle rate,” the leader of the French-speaking Socialist Party (PS) Paul Magnette said on Sunday when speaking to VTM News.

"The government must intervene immediately. The situation is very bad,” said the president of the French-speaking socialists.

With rising energy prices, more and more families are having trouble paying their energy bills. In addition to a possible price blocking at the European level, the Federal Government must also urgently take extra measures, Magnette continued.

In addition, he believes the parties in the Vivaldi government must also transcend ideological conflicts.

“Ideological conflicts are important, but there is an urgency. Now we have to put the ideology aside and help the working and middle class,” Magnette said.

Related News

According to the PS chairman, €1 billion can be obtained from the planned taxing of excess profits in the energy sector. That billion could then be used to “give back to the people.”

In concrete terms, Magnette is thinking of expanding the social rate. He himself speaks of a kind of ‘middle rate’. “That social tariff protects a fifth of the population,” explains Magnette. But many families who are also having a hard time now fall by the wayside for that rate.

Another option on the table is a basic gas package for those who do not receive a social rate. “Whether it’s a basic package or a mid-range rate, we have to give the excess profits back to the people and something has to be done now to lower the bill,” said Magnette.

Copyright © 2024 The Brussels Times. All Rights Reserved.