2023-06-03 05:02:00
The savings of Belgians is a source of concern within Vivaldi. For several weeks, the government has been trying to put pressure on the banks to make them agree to increase the interest rates on the savings accounts of Belgians. At the parliamentary level, ecologists and socialists are pushing through bills to force the banking sector to adopt more favorable rates for their customers.
”This is an essential debate”, comments George Gilkinet (Ecolo), Deputy Prime Minister. “It’s about tax justice. We helped the banks when they were in difficulty. Today, they distribute sometimes very generous dividends and bonuses. They can obtain interest in excess of 3% from the European Central Bank. But the rate of Belgian savings books does not move. This is obviously unacceptable. There is a form of arrogance in the banking sector in not wanting to budge.”
Belgians are depriving themselves of a better rate for their savings
This is why the issue has come to the federal government table. For Minister Ecolo, the minimum interest rate offered on Belgian savings accounts must be linked to the interest rate guaranteed to banks by the European Central Bank, by deducting 2%. “This in order to leave them a margin, with exceptions if they can justify a particular situation. Nor should the banks be pushed into imbalance. We saw it with the Fortis Dexia file. Belgium has every interest in having a banking sector that is stable.”
The European Central Bank currently allows banks to make deposits with interest rates that exceed 3%. For their part, the big Belgian banks hardly grant interest above 0.5%. For Ecolo, this rate should be raised beyond 1%, which would still leave the 2% margin to the banks vis-à-vis the ECB.
This proposal still seems to be blocked at the level of the banking sector, which irritates Minister Gilkinet. “It’s a little easy when things are going badly to call on the state for help, but when things are going a little better, to not properly remunerate Belgian savers.”
To bring about change, Vivaldi and parliamentarians can take legislative action. Their means of action is the law. “There is already a law that sets the minimum rate of remuneration for savings books. All you have to do is change the figures that are in this act. It is not a scandal to say it and we are not making this proposal with a wet finger, eh. The proposed reference is the interest of the European Central Bank less 2%. It’s math.”
George Gilkinet hopes that the government will quickly reach an agreement. “It is not an ideological conflict. It’s just a matter of common sense and respect for Belgian savers.”
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