August 8, 2022

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Kag: We have to realize that together we will get poorer

Kag: We have to realize that together we will get poorer

Kaag spoke ominous words on her arrival in Brussels where she was present at the Eurogroup meeting, where all the finance ministers of the euro countries are talking about European fiscal policy.

The Netherlands will endorse a statement there that euro countries will be reluctant to provide financial support to their citizens and businesses now that inflation is not decreasing. “We have to realize that collectively we’re going to get a little bit poorer,” Kag says. “Willing or being able to compensate consistently is simply not possible, it is not financially sustainable.”

money for low income people

Last week, Prime Minister Rutte promised to give low-income earners more money:

According to Kaag, economic developments do not look good, especially because of the war in Ukraine. Energy and food prices, among other things, will continue to rise, affecting people who are already having a hard time making ends meet. “I think that should be given constant attention,” she says.

New inflation figures

The European Commission will release new growth forecasts and inflation figures for the European Union later this week. Average growth is expected to be lower and inflation to be higher than forecast earlier this year. However, Kaag does not want to anticipate potential cuts. “We have to see what comes our way first.”

Meanwhile, the investments agreed in the Alliance Agreement, reforms and investments at the European level, are also essential for the future. These include combating climate change, the nitrogen problem, reforming education and reducing Russian energy dependence.