The key facts
- De Wever will meet King Philippe at 9:30 CET on 2 November and, according to media reports, will offer the government's resignation
- The cabinet failed to agree on cutting the deficit by €10 billion by 2029: liberals oppose tax increases, socialists insist on a bigger contribution from the wealthy
- Belgium's public debt exceeds €735 billion (over 110% of GDP), government bond yields are rising; the budget must be agreed by 3 November
Overnight talks ended without a result
Belgian Prime Minister Bart De Wever will have an audience with King Philippe at 9:30 CET on 2 November and, according to local media reports, will offer the government's resignation. The reason is the failure of overnight cabinet budget talks: ministers from the ruling coalition once again tried to find a compromise, but parted without an agreement. The prime minister's plans are reported by De Standaard, citing a source, and euronews, citing local media, in particular broadcaster VRT..
The essence of the dispute within the coalition
The cabinet must agree on measures to cut the budget deficit by €10 billion by 2029 — through spending reductions and additional tax revenues. The main conflict flared up between coalition partners: the liberals oppose tax increases, while the socialists insist that wealthier citizens should contribute more to the treasury. The disagreements also touched on healthcare spending.
The scale of the budget problem
euronews provides context showing why the stakes in the talks are high: Belgium's budget deficit last year was 5% against the 3% maximum allowed under European rules, and the public debt exceeds €735 billion — more than 110% of GDP versus the permitted 60%. Due to the lack of an agreement, yields on government bonds have already risen, and the country has to pay more on its debt obligations. The budget must be agreed by 3 November, otherwise the state will switch to a temporary scheme for financing expenditures.
What may happen next
The meeting with the monarch may also be a tactical move: one of the deputy prime ministers hopes that De Wever's visit to the king will force coalition partners to reconsider their positions, and called the meeting a possible 'electric shock' for the government. 'Otherwise a deep crisis awaits us,' the De Standaard source warned, expressing hope that an agreement can still be reached by Tuesday. If the king accepts the resignation, new elections will be called; he may also refuse or leave the request under consideration, which would give the government additional time for negotiations.
