Taxes

The World's Most Taxed Workers Get a Break

Belgium's high tax on labor hurt employment and innovation.

Workers' new best friend.

Photographer: Thierry Charlier/AFP/Getty Images

Last week Belgium's one-year-old government announced measures, radical by that country's standards, to move the burden of taxation to consumption from labor.  The measures are being hailed as the start of a new social contract in the heart of Europe. While the fiscal impact may be limited, the change to taxation may give the country some breathing room to tackle its large public debt. And it may give other high-tax countries some useful ideas.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.