Michel postpones State of the Union speech

Belgium's prime minister Charles Michel (above, right) has postponed his State of the Union address, originally scheduled for 14.00 on Tuesday, after negotiations came to a standstill yesterday around midnight, report various Belgian media.

The negotations are mainly prolonged by a request from Kris Peeters (above, left) of the Flemish Christian democrat party CD&V, who calls for a simultaneous reform of both the corporate- and personal capital gains tax. While the government parties want to lower corporate taxes, the CD&V will only agree if there is a tax on large fortunes, as well.

The parties reconvened at 9.00 this morning to continue to discuss the budget and additional structural reforms.