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VP_A5 brochure 2016_EN_[LR]

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8. The budget of Flanders<br />

Flanders acquired several new<br />

competences in the period spanning<br />

1970 and 2014. Flanders<br />

requires a very large budget to be<br />

able to exercise its competences<br />

fully. To understand this we only<br />

need to think of the cost of education,<br />

the assistance to the disabled<br />

or the construction of cultural<br />

centres and sport centres.<br />

The majority of this money comes<br />

from the federal state (an endowment).<br />

Flanders can raise its own<br />

regional taxes, using for example<br />

the withholding tax on income<br />

from real estate, registration<br />

fees and death duties. In fact 34%<br />

of Flemish revenue comes from<br />

own taxation.<br />

25

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