Belgian coalition talks collapse over budget dispute

BRUSSELS: Bart De Wever, the Flemish nationalist negotiator leading talks to form a new Belgian federal government, has tendered his resignation to King Philippe of Belgium after negotiations with four parties failed. The Belgian King will begin consultations t today, Friday, with more party leaders from across the political spectrum before deciding on the next steps to form a viable governing coalition. Bart De Wever was appointed to lead the government formation talks on 10th July. Negotiations among the five parties to form a new government coalition collapsed following the June 9th election, primarily due to a budget dispute over a proposed capital gains tax intended to address Belgium's significant budget deficit, which stands at 4.4 percent of GDP for 2023, well above the EU's 3 percent threshold. Belgium is also required to submit a plan to the European Commission by September 20th to reduce its deficit of around pound 25 billion. Source: Emirates News Agency