Royalty in the News

Queen Beatrix ensured the Dutch people that their government is prepared to deal with the worldwide economic slowdown, with national debt levels heading toward lows not seen since the 1800s.

In a speech to the Dutch parliament at the 13th Century “Hall of Knights” in The Hague, Queen Beatrix outlined the government’s budget.

“Thanks to the efforts of the previous years, the Dutch economy is in relatively good shape,” said the queen, reading a speech written by Prime Minister Jan Peter Balkenende.

“Unemployment is low, and since the year 2000, the purchasing power per household has increased by 12 percent,” she said. “Our pension system and other social services are solid.”

Dutch unemployment is at 4 percent.

In addition, there may be a surplus of 1.2 percent in the Dutch gross domestic product next year. This will be from windfalls from the country’s natural gas reserves.

But the budget is to continue a decade-long trend of cutting welfare state entitlements and readying for the effects of an aging population.

Among other measures, citizens aged 18-27 will no longer be eligible for unemployment compensation, and will be obliged to either work or study.

Meanwhile, workers aged 62-65 will be given a bonus for each year they keep working.

In a confident review of the country’s finances, Finance Minister Wouter Bos said debt is expected to fall below 40 percent of GDP in 2009 and will be near 36 percent by 2011 — the lowest level since records began in 1814.

“It’s a very relaxed budget against a very turbulent background,” he said.

Economic growth is expected to slow from 3.5 percent in 2007 and 2.5 percent in 2008 to 1.25 percent in 2009.

Holland’s Budget Day was treated as a day of celebration, full of pomp and circumstance. The Queen rode in a gilded carriage drawn by eight horses through the streets of the Hague. Hundreds of royalists cheered and waved.

Later, the Queen and the rest of the royal family stood on the balcony at the Palace Noordeinde, waving to the numerous royal fans.