Coalition splits over millionaires' tax as tax plan vote nears

The three parties of the minority cabinet, D66, VVD and CDA, openly disagreed during the Tweede Kamer debate on the 2027 tax plan over an opposition amendment from PRO and Volt. The amendment would raise €1.5bn from wealthy people, with measures that include a 45% top rate in box 3, the tax on savings and investments. The Tweede Kamer votes on Thursday 12 November, then the plan goes to the Eerste Kamer.

Why it matters

• If both chambers agree, most measures apply from 1 January.
• The cabinet dropped the €1.5bn defence levy (vrijheidsbijdrage) on Tuesday.
• The VAT increase on cut flowers is off for now.
• The box 3 reform is postponed by a year, to 2029.

PRO and Volt would use the money to cut taxes on labour. The amendment would also raise gift and inheritance tax and tax on directors who are major shareholders, and tackle gift constructions on paper. PRO says the top rate is aimed at people with assets of €1.3m or more, not counting the own home, who make a 6% return a year.

D66 MP Henk-Jan Oosterhuis said his party understands the direction but called the scale "a bit rough", and said a divided coalition vote is "not unthinkable". VVD MP Wendy van Eijk said it is "unthinkable" that a coalition party would back the proposal in this form, and said it breaks the coalition agreement. CDA MP Inge van Dijk said the plan goes too far on some points and that voting divided is "certainly not the intention".

The coalition parties have agreed that, in the last resort, they may vote differently on opposition amendments, as long as they respect the coalition agreement and each other's sensitivities. PRO leader Jesse Klaver said PRO cannot vote for the plan as it stands. Prime Minister Rob Jetten called the PRO and Volt proposals "fors" (substantial) and "best ruig" (quite rough). He said the cabinet cannot present another adjusted plan, so MPs can now steer it through amendments.

A majority in the Tweede Kamer looks within reach with ChristenUnie, 50Plus and the Groep Markuszower. The Eerste Kamer majority is not secured. Jetten said that if the plan is voted down, the state loses almost €2bn next year, €6.1bn in 2028 and structurally €9bn a year after that.

Cabinet measures cover under a fifth of the cost of ending box 3 tax on paper gains

€bn

Cabinet measures cover under a fifth of the cost of ending box 3 tax on paper gains (€bn). Highest: Cost from 2028 to 2040, 21.8; lowest: Covered by cabinet measures, 4.2; 3 items. Source: Ministry of Finance.

View data

Data: Cabinet measures cover under a fifth of the cost of ending box 3 tax on paper gains

Item	€bn
Cost from 2028 to 2040	21.8
Covered by cabinet measures	4.2
Not covered	17.6

The Ministry of Finance released these figures at the Tweede Kamer's request. The cost covers ending taxation of paper gains in box 3 from 2028 up to and including 2040.