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Alsharq Tribune-Otaify
The Dutch government announced on Monday a 967 million euros (1.14 billion U.S. dollars) economic support package to mitigate the impact of rising energy prices on households and businesses following the outbreak of conflicts in the Middle East.
The package includes 627 million euros (739 million dollars) in spending measures to support purchasing power, alongside 340 million euros (401 million dollars) in targeted tax measures aimed at strengthening business resilience.
"Energy prices are expected to remain higher for the time being, even if the conflict in the Middle East comes to an end in the short term. Households and businesses are already feeling the consequences of this." the government said in a statement.
To finance these measures, the government will introduce several tax adjustments, including scaling back the small-scale investment allowance by lowering the maximum eligible investment amount, abolishing the start-up allowance from 2027, and increasing alcohol excise duties from the same year, the statement said.
On April 16, a report by ING Think, a think tank focused on the global economy, warned that Dutch economic momentum has slowed due to surging energy prices.
