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Science Says No, Policy Says Yes: The Hybrid Car Fallacy

Last week, we provided a high-level analysis of the new federal government agreement, highlighting four major points. Today, we look at one specific aspect: climate policies. While the overall targets remain unchanged, new policies have been introduced, including adjustments to the fiscal treatment of plug-in hybrid vehicles (PHEVs) used as company cars. Since 2023, the tax de ...

New Federal Government Agreement: What impact for you as an investor?

The new government agreement led by Bart De Wever brings several significant changes for investors—and not all of them pleasant. In this article, we discuss the adjustments that could impact your investment portfolio. We focus on the simplification of the tax on stock exchange transactions (TOB), the annual tax on securities accounts, adjustments for investment companies under ...

De Wever I: A Long-Awaited Government – What It Means for Belgium

After six months of negotiations, Belgium finally has a new federal government. The De Wever I coalition is notably leaner than previous governments, with 15 ministers including the Prime Minister. While this efficiency is welcomed, it also concentrates significant responsibilities on key ministers like Jan Jambon (Finance, Tax, and Pensions) and Frank Vandenbroucke (Social Aff ...

#MacroFriday: Golden Lining to Uncertainty

After a staggering 30% price increase in 2024, gold has continued its upward trajectory, reaching a new record high.     On Wednesday, gold hit $2,882 per ounce, driven by escalating fears of a trade war under Trump's presidency. This safe-haven asset has been on a long-term rise, defying historical trends. Typically, rising real interest rates act as a headwind for gold. ...