Belgium "has no money for economic stimulus"

8th July 2009, Comments 0 comments

The OECD, the organisation of the world's richest countries, has said that Belgium has no financial leeway to take any additional measures to stimulate the economy and tackle the effects of the global recession.

The Organisation for Economic Co-operation and Development says a number of other measures are urgently needed.

Government finances need to be made sound once again. The OECD notes that Belgium's regions have a role to play in this.

It suggests that the regions could take responsibility for funding the pensions of civil servants.

It also argues that labour and businesses are taxed too heavily.

The OECD proposes that any tax shortfall could be made good by higher taxes on real estate, goods and services and increasing the price of diesel. 

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