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Christophe Ernaelsteen

  • Dinsdag 18/4/2023
    Ernaelsteen / Roosens

    The explosion of prices since the COVID-19 health crisis has significant impacts all around the world. In this contribution, we examine the consequences of the price explosion on the costs of Belgian companies. Four categories of costs are reviewed: the energy costs, the costs of raw materials and industrial inputs, the wage costs and the transport costs. For most of these costs, the increases are higher in Belgium than in the neighbouring countries. We then analyse and estimate the impact of the cost increases on the competitiveness of Belgian companies. According to our estimates, the loss of competitiveness of Belgian companies will be between 3 and 10%. To solve this situation, companies face what we have called an impossible dilemma: increase their selling price or reduce their profitability. However, both solutions will have negative effects on economic growth and employment in Belgium.

  • Maandag 17/5/2021
    Van den Broele, Baeten, Ernaelsteen, Roosens

    The actual policy measures taken by the different governments focus mainly on the liquidity needs of the companies. The actual situation of the companies reveals the increasing solvency challenges. Some 20% of the companies who were healthy before the crisis, are now facing huge difficulties. Fiscal measures are needed to restore and pump up the solvency. This can be done via the company tax: recuperation of fiscal losses, self financing, deductibility of risk capital, tax credit for the increase of own funds. But the mobilisation of risk capital and savings is also needed via the launching of a COVID-19-taxshelter, a new version of the “Cooreman - De Clercq” stimulus in favour of investment in equities, the creation of quasi-own funds. Of course, an increased deductibility for investments or an acceleration of amortisations could be also helpful.