What could the Prinsjesdag budget mean for you?

| Leiden International Centre

Though you might not get it from the name, Prinsjesdag, literally “prince day”, is an important day for the Dutch government. On Prinsjesdag, the government announces its annual budget, which has implications for anyone living in The Netherlands. The 2023 budget announced on 20 September is no exception. In this article you can find out more about what exactly was announced with the budget and what this could mean for you. 

Taxes, income, and benefits: 

In an unprecedented action to try address rising living costs, the Dutch government has announced that it will invest 17.2 billion Euros in various measures to help those living in The Netherlands. Specifically, the minimum wage will be raised 10% and student grants will be raised 165 Euros per month, and income taxes for those in the lowest bracket will fall. The labour tax credit for those working in The Netherlands will also increase. Meanwhile taxes for wealthy individuals and corporations, in addition to transfer taxes will be raised. 

Energy has also become an important dimension of these issues, and there were several dimensions to energy costs announced in the budget. In particular, it was announced that taxes on fuel and energy will decrease while some will also be able to claim an energy allowance and a cap will be announced on energy prices. 

Other matters: 

In addition to the question of taxes, income, and benefits, a host of other measures were also announced in the budget. On healthcare, the government announced that the price of healthcare would increase by roughly 11 Euros per month. Meanwhile investments will be made into national vaccination programs for small children and elderly care.  

Concerning housing and infrastructure, the government is working to expand the availability of affordable housing. Investments are also being made to ensure insulated housing and the maintenance of waterways, water management, and railways. 

Other areas of investment are education, humanitarian and military aid for Ukraine and the reception and support of refugees in The Netherlands, crime and security, and the climate. 

The budget of the royal family will also see an increase in their budget in 2023. 

Overall, 2023 will see a host of government and financial spending, which could also mean changes for your daily life, so be sure to stay informed! 

To find out more, check out these additional articles by IamExpat and Dutch News