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Flemish Government looks to savers to support the economy by investing in “Prosperity Fund”

The Flemish Government has announced the setting up of a “Prosperity Fund”. The fund will offer support to businesses in our region in the medium term. The announcement that the fund is being set up was made at press conference held on Monday morning. 

The Flemish Government will invest 240 million euro of public money in the fund. However, it also hopes to convince savers to invest in the fund. Those that do so will be given a 2.5% tax break spread over three years up to a maximum of 1,000 euro. Furthermore, a reduction in inheritance tax will be given on money from an inheritance that is invested in the Prosperity Fund.

Cash from the Prosperity Fund will be used to help business that are having difficulty repaying loans or to provide them with fresh capital. When deciding on which businesses should be given help from the fund priority will be given to firms that are just starting out and companies that are involved in innovation.

 

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