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One of the new Rutte III government's more unexpected proposals was to lower to zero (IOW scrap) the Dutch dividend tax for businesses - to create the same situation in England. Because this would mean a loss of 1.4 billion euros in revenues, Rutter III has also proposed to increase VAT tariff from 6 to 9 percent to help plug the gap. So everyone here will pay up for a handout to multinationals. This is what you get when Rutte is unshackled from a left(ish) opposition party...

Over the course of the past weeks, opposition parties began to dig into this. Turns out this proposal was only put forward during the long-lasting negotiations by Rutte himself - and after Dutch multinationals (Unilever and Shell in particular) lobbied him to scrap the dividend tax. Their argument: Brexit, and a veiled threat to move head-offices across the North Sea, to London. I simply don't get the logic of their argument, how moving towards a country with hard cliff Brexit would benefit them.

But point is, that it could be a sign that under Rutte III, the will to start a new race to the bottom might just be there.

by Bjinse on Fri Nov 17th, 2017 at 10:55:17 PM EST
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