Populism doesn't make oil any cheaper

The Belgian Budget Minister Guy Vanhengel wants to cut fuel taxes to ease the burden on consumers. But that would be unwise in view of the large budget deficit, writes the business paper De Tijd: "If oil prices skyrocket internationally and the Belgian state benefits through VAT, it should be delighted with the additional revenues. They mean it need not demand any further sacrifices from the population. ... In addition, higher fuel prices are welcome because they lower the number of car journeys. That could be a solution to the permanent traffic gridlock our country suffers from. ... The proposal to cut taxes is very short-sighted, but it will be much applauded. Because who doesn't like paying less for petrol? However the applause is uncalled-for. Ultimately, in one way or another we will all pay for the rise in oil prices."

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