Dispute over proposed wealth tax

The PS (Belgium’s Francophone social-democratic political party) has proposed a new tax on fortunes over €1.25million, writes La Libre Belgique. However, Deputy Prime Minister for Open VLD (Open Flemish Liberals and Democrats) Vincent Van Quickenborne (pictured) warns, "If the PS goes through with this wealth tax, there will be no federal government anymore." The proposal by the PS was likely spurred by recent news that French billionaire Bernard Arnault has applied for Belgian citizenship, possibly for fiscal reasons.