Belgium: Socialist Party proposes wealth tax and unemployment solutions

In Belgium, several fiscal and social policy debates are emerging. Paul Magnette, president of the Socialist Party (PS), has outlined a proposal for a 1% wealth tax targeting assets exceeding 5 million euros. He emphasized that the measure is designed to target large fortunes while exempting small entrepreneurs and ordinary savings to avoid hindering economic activity.

Regarding unemployment, Magnette stated that the PS would not repeal the current reform limiting the duration of unemployment benefits. Instead, he proposed a guarantee of employment for individuals who remain jobless after two years, suggesting they could be integrated into sectors such as public services or schools.

Separately, the mutual insurance organization Solidaris is opposing a proposal from the SPF Finances to tax the surpluses of mutualities via corporate tax. Solidaris president Paul Callewaert described the potential 25% tax on non-profit surpluses as an ‘ideological attack’ on social protection, arguing that mutualities differ from private insurers by prioritizing social coverage for vulnerable populations rather than profit maximization.