General financial debate

11 October 2013

On  October 16 and 17 the House of Representatives held the yearly  general financial debate, in which the financial experts of the various political groups discussed the National Budget with the minister of Finance. 

On  October 16 and 17 the House of Representatives held the yearly  general financial debate, in which the financial experts of the various political groups discussed the National Budget with the minister of Finance.

Budget Memorandum
Normally the general financial debate focuses on the Budget Memorandum,  a policy document in which the government looks ten years back and four years ahead. This enables MPs to make a good judgement of the government's proposals. The Budget Memorandum is the financial translation of the King's Speech. It describes the current economic and financial situation of the Netherlands and the prospective developments in the Netherlands, in Europe and abroad. It also describes the State's financial situation, the "public treasury". Budget Memorandum, therefore, is another term for Memorandum on the State's finances.

Opposition
This year the general financial debate might have a slightly different character. After the general political debate on September 26 and 27, the government coalition, formed by VVD (liberals) en PvdA (social-democrats) started negotiations with opposition parties about further amendments to the national budgets, in order to gain support in the Senate, where there is no majority for the government coalition. The outcome of these negotiations are expected to be discussed during the general financial debate.