Bloomberg News

Dutch Government Reaches Accord With Opposition on Housing Bill

February 13, 2013

The Dutch government coalition reached a deal with the opposition on a bill aimed at reviving a housing market that’s been in a slump since 2008.

Prime Minister Mark Rutte told reporters an agreement was reached that “will have limited impact on the treasury.” An accord is “crucial” as a slumping construction industry slows the country’s economic recovery, he said.

The coalition may give homeowners more time to pay down their mortgages and cap rent increases after the government’s initial proposal failed to get sufficient support in the senate. Housing Minister Stef Blok and Rutte are expected to give a press conference at 10:30 a.m. today where they may provide details of the accord.

A levy on housing corporations will probably be lowered to 1.75 billion euros ($2.36 billion) from 2 billion euros, De Telegraaf reported today, citing people with knowledge of the matter.

Rutte and the Labor Party, its coalition partner, needed the support of three opposition parties after talks with the Christian Democratic Party to get Senate approval failed on Feb. 11. It marked the second time that major legislation proposed by Rutte’s Liberal Party and the Labor Party didn’t win parliamentary approval. The Cabinet had to adjust a health-care bill after resistance from within the Liberal Party.

To contact the reporter on this story: Fred Pals in Amsterdam at fpals@bloomberg.net

To contact the editor responsible for this story: Stephen Foxwell at sfoxwell@bloomberg.net


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