Dutch employee savings released to prop up economy

9th July 2010, Comments 0 comments


The Dutch Lower House has applauded the government's decision to allow savers to withdraw money from their save-as-you earn accounts. The move was made in an attempt to stimulate the economy; it allows people to spend their savings from their job-related accounts immediately, rather than having to wait the statutory four years set by the scheme's original rules.

The early release of the money was an initiative of free-market liberal Frans Weekers, who managed to secure the support of the entire house. Labour spokesman Ronald Plasterk commented on the cabinet decision saying "It's a wise move. Even if just 20 percent of the 4 billion savings are actually spent, it still constitutes an important increase in people's purchasing power without crippling the national budget."

© Radio Netherlands Worldwide

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