Lengthy government formations are becoming the norm in Belgian politics, but this one felt different. Major reforms had to be negotiated under immense budgetary pressure, all while the European Commission kept breathing down the federal negotiators’ necks. Now that the coalition agreement is in place, the question remains: Is this ambitious roadmap feasible, or will political friction cause dissonance? More importantly, how will these broad policy directions shape the business landscape? In this article, we unpack what De Wever I means for businesses and how public affairs professionals can navigate its five-year agenda.
Balancing competitiveness, budget cuts, and tax reform
The new government certainly does not lack ambition. Not only does it aim to boost Belgium’s competitiveness, but it also promises to clean up the national budget (‘saneren’)—to the tune of 17 billion euros over five years. If that weren’t enough, Arizona also plans to implement a fiscal reform before the end of its term.
This tricky trinity will inevitably revive one of the oldest political cleavages we know: left vs. right. Expect MR and N-VA to champion competitiveness, cd&v and Les Engagés to push for fiscal reform, and Vooruit to step on the occasional brake when budget cuts seem to go too far. A good lobbyist will be well aware of these competing priorities and know leverage them effectively.
For businesses, the coalition agreement sets a positive tone. The emphasis on maintaining Belgium’s competitiveness, numerous references to innovation, and even nods to the Draghi report must have put a smile on some corporate leaders’ faces while reading the 200+ page document. All of these priorities align with the planned flexibilization of the labour market and a more pragmatic approach to the green transition. No doubt, many of these elements are the result of well-crafted memoranda from companies and trade associations. If you’re still recovering from writing one, take comfort in knowing that the effort has paid off.
How about we take a closer look at three sectors we have expertise in?
Energy: a pragmatic shift
The incoming energy policy under De Wever I can best be described as a “yes, but” approach. The government remains committed to decarbonization but stresses that the transition must be realistic and affordable. The introduction of energy neutrality marks a clear break from Vivaldi’s ideological stance. Instead of favouring specific technologies, this government will consider any energy source that contributes to security, climate goals, and affordability.
This shift is most evident in nuclear policy. While the previous government was committed to phasing out nuclear energy, the new coalition fully embraces an extension of the existing nuclear plants and investments in Small Modular Reactors (SMRs). Renewable energy will continue to expand, with an increased focus on bioenergy and offshore wind, but nuclear power is once again a cornerstone of Belgium’s energy security.
Companies can expect price incentives favouring carbon-neutral energy sources. However, concerns remain about accumulating taxes, levies, and distribution fees, which could drive up costs for certain energy carriers. The government acknowledges that risk but has yet to clarify concrete solutions. Investing in public affairs can mitigate the risks and even leverage the opportunities.
Digital & Tech: infrastructure, AI, and e-commerce
De Wever I continues along a familiar path: digital remains a not-so-sexy topic for politics. While we had hoped for more ambition, the theme is still addressed multiple times, and some promising opportunities are emerging. Digitization is described as key to Belgium’s economic competitiveness, with a strong push to ensure that by 2030, every business has access to gigabit-speed internet.
Beyond connectivity, the government is taking a more active stance on data regulation, AI, and e-commerce. A national data strategy will set new rules on data usage and monetization, aligning with EU frameworks. At the same time, a “cloud-first” policy and AI-driven efficiency measures will reshape public sector operations, offering opportunities for tech firms specializing in AI, cloud services, and cybersecurity. Meanwhile, the rapid rise of e-commerce and parcel delivery services has prompted new sustainability measures to mitigate environmental and mobility impacts, which could translate into stricter operational requirements for logistics and retail players.
Some plans might make a few companies nervous—such as the introduction of a digital services tax by 2027 if international consensus isn’t reached (spoiler alert: it won’t be). This echoes the back-and-forth we’ve seen with copyright taxation, where uncertainty lingers despite yet another promise to reform the regime for digital professions. Similarly, growing concerns over misinformation have prompted the new government to push for stricter oversight on platforms. Given the existing measures under the EU Digital Services Act, not every company will welcome additional national rules on top of that. These regulatory shifts highlight the need for businesses to stay proactive in public affairs efforts. Wondering if any consultancies specialize in this topic? Don’t look too far.
Pharma: keeping Belgium on the map as a Life Sciences Hub
Belgium’s pharmaceutical industry is a powerhouse, and the government recognizes its importance. The coalition agreement promises to maintain the country’s attractiveness as a global life sciences hub by preserving key fiscal incentives, such as tax benefits for R&D-intensive companies.
However, a tension remains between affordability and innovation. While the government aims to control healthcare costs, the pharma sector will be watching closely to ensure that cost-cutting measures don’t stifle investment in new treatments and patient access to innovation. Industry players should anticipate continued negotiations on drug pricing and reimbursement policies, making it essential to continue advocating for a favorable innovation and investment climate.
Conclusion: managing the balance
De Wever I will need to balance the tricky trinity of budgetary discipline, competitiveness, and reforms and lobbyists should anticipate shifts as priorities evolve and events unfold. While more ideologically coherent than its predecessor, Vivaldi, this government still presents uncertainties that require constant vigilance from public affairs professionals. Ultimately, the best strategies embrace flexibility, a quality De Wever will also need if he wants to keep his coalition intact. After all, if anyone understands flexibility, it’s a Flemish nationalist now embracing his role as the Belgian Prime Minister — though whether he’ll cheer for the Red Devils remains to be seen.
Jan Feyaerts – Senior Consultant, Brussels
