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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 />
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