commentary
Nowhere in Europe is purchasing power as well protected as in Belgium. Yet the contents of the wallet will play a leading role in the electoral battle.
Ruben MooijmanSenior Writer
Today at 03:00
After migration, purchasing power is the most important election theme, according to De Stemming, the opinion survey by De Standaard and VRT NWS. Remarkable, because nowhere in Europe is purchasing power as well protected as in our country. The effect of inflation on the wallet is largely neutralized through the indexation of wages and benefits. Wage increases that have to be fought hard for in neighboring countries are automatically granted to employees in Belgium.
The De Croo government also maintained purchasing power through generous subsidies during the energy crisis. Minimum pensions were also increased and the lowest benefits increased. Real disposable income for private individuals will probably increase by 3.4 percent in 2023, the National Bank predicted. This is in line with the findings of De Stemming: the number of Flemish people who have difficulty making ends meet has fallen significantly compared to a year ago.
Nevertheless, the theme remains a rewarding one for politicians. When it comes to the contents of their own wallet, every voter pricks up. It is therefore logical that the theme is now claimed by Vooruit. Strategically that makes sense. Values such as social justice and fair distribution of wealth form the DNA of the party. Moreover, through its participation in Vivaldi, Vooruit can present good credentials in that domain.
Central to Vooruit’s purchasing power proposals is that the balance of power between companies and consumers must shift in favor of the latter. That is certainly to be welcomed. Promoting competition in the telecom sector, a reform of the notarial profession, cutting back on the proliferation of energy contracts, a more transparent rate for savings interest rates: all excellent proposals. A lack of competition in the services sector is a pain point that has been burdening the Belgian economy for decades. From an ideological point of view, some proposals are even liberal in scope. Note that Alexander De Croo (Open VLD) has already made successful efforts in the previous government to open up the telecom sector.
However, you have to be careful about over-regulation. Competition is preferably promoted by abolishing anti-competitive rules, not by imposing loads of extra obligations on companies.
