Dutch employers Oppose Budget Cut Plans

On Thursday, Employers Association VNO-NCW’s Head Bernard Wientjes informed Dutch newspaper that employers are against the government's plans to take away €6 billion in next year’s budget. Montserrat Labiaga Ferrer/flickr This financial plan of the government is necessary to cut its budget deficit to 3 percent, required by the European Union's financial discipline rules. Wientjes, however, believes this will have a negative impact on the Dutch economy, resulting to added cuts. He explained the economy is unstable and he predicts it will remain idle in the next ten years. "We should do it completely differently. The government should make another plan and go to Brussels.They should sell ABN Amro, SNS Reaal banks, insurer ASR and the mortgage branchof ING. This will bring in many billions," he told the newspaper. He recommends selling off 30 percent of the entire government's Gasunie and Tennet shares. In response, Vice Prime Minister Lodewijk Asscher said selling will not resolve the budget issues since "the Netherlands would not obtain a good price for the banks." He remains firm on implementing the budget cuts even with the disapproval.