In spite of a 10-billion euro rescue package designed to ensure that Dutch businesses continue to pay their employees, people should be prepared for impending bankruptcies and layoffs in the weeks ahead, social affairs and employment minister Wouter Koolmees said. “People will lose their jobs and companies will go bankrupt,” Koolmees admitted to local news service AD.
The government will cover up to 90 percent of wages for companies that lost at least 20 percent of turnover due to the coronavirus over a period of three months, Minister Wouter Koolmees of Economic Affairs and Employment announced on Tuesday. This measure, intended to preserve employment, applies to wages up to 9,538 euros per month per employee, NOS reports.
Most households will be a bit better off next year, the Budget Day figures predict. And while this is indeed the case, it is mainly the rich who benefit from it, RTL Nieuws reports based on its own research into the incomes of different income groups.
The Dutch economy will grow by 2.4 percent this year and 2 percent next year, central planning office CPB expects in its latest estimation. In the previous estimation in March, the CPB expected 2.1 percent and 1.8 percent growth for 2017 and 2018 respectively, ANP reports.
Unemployment is expected to continue its decline, to 4.9 percent this year and 4.7 percent next year. The government finances also look healthy, with a surplus of 0.5 percent expected for this year and 0,7 percent for next year.
The Dutch economy will grow by 2.5 percent this year - the highest growth in a decade, Dutch central bank DNB expects. The economy is doing better in all aspects, but wages are still lagging behind, the bank said in its latest estimate on Monday, NOS reports.
DNB's expectations are rosier than the central planning office CPB's estimates in March. The CPB then predicted economic growth of 2.1 percent. The office is releasing its latest estimates on Wednesday. The Dutch government uses CPB estimates to make its policy.
The wage gap between men and women is on the decline again this year, according to the Monsterboard Wage Index. While the average gross hourly wage of women remain unchanged at 13.86 euros, the average earned by men fell from 15.19 to 14.72, a drop of three percent.
Companies can help stimulate the economy by increasing worker wages well above the current low rate of inflation, said Klaas Knot, President of the Dutch Central Bank. An improvement in purchasing power is the best way for the Dutch economy to move forward, he said at the International Monetary Fund meeting on Friday.
Minister of Finance Jeroen Dijsselbloem said he considered firing ABN Amro CEO Gerrit Zalm because he wanted to increase salaries of six co-directors, reports AD. He decided against it after concluding the bank would stick to its earlier action plan, approved by Parliament and the Finance Ministry, Dijsselbloem said Thursday in a session with MPs.
Last year, there were 6980 evictions from homes, the AD reports. This is a rise of 8 percent in comparison to 2012.
The Dutch paycheck will increase with an average of 2.3 percent next year, lagging behind the European average.
Ambulance personnel will expand their actions in the next few weeks with work interruptions. On Wednesday employees will stop working for two hours from 12.30pm in Almere and Lelystad, in the province in Flevoland.
Most Dutch experienced a reduction in their salary last year. Wages decreased most in the agricultural sector (-6,6 percent) and in hospitality (-3,5 percent). Employment website Monsterboard concluded this after questioning 14 thousand people for the Wage Index, de Loonwijzer.