Belgian EU Council Presidency – Preparing Europe’s 2024-2029 Economic Priorities

Vincent Van Peteghem

Deputy Prime Minister and Minister of Finance

Belgium

Vincent Van Peteghem is Deputy Prime Minister and Minister of Finance, in charge of the Coordination of the Fight against Fraud and in charge of the National Lottery in het Belgian Federal Government. Minister Van Peteghem has a successful academic career as professor of Operations Management and director of Education Innovation at the EDHEC Business School in Lille when he is sworn in as a member of the Chamber of Representatives for cd&v in 2016. There, he makes his mark as the party’s substantive strongman in the Foreign Relations Committee, the Kazachgate Investigation Committee and the Political Renewal Working Group. After an election victory, he becomes mayor of De Pinte in 2019. In the same year, he also takes up his position as a Flemish Member of Parliament, until he is sworn in as deputy prime minister for cd&v and minister of finance in the De Croo I federal government on 1 October 2020. Minister Van Peteghem focused on the need for bold reforms from the start of his ministership. In the first part of his ministership, many efforts go to supporting families, single people and businesses through the covid and energy crises. That does not stop him from also implementing reforms that modernise, simplify and make the tax system more equitable. For instance, Minister Van Peteghem is introducing the mini-tax shift where a tax cut on labour is coupled with increased taxes on pollution and wealth. He is also committed to various reforms within the fight against tax fraud, strengthening the Belgian government holding company FPIM and greening the company car fleet. The final piece is his preparatory work on the broader tax reform. A reform founded on the system of a dual income tax, where charges on labour are firmly reduced, shifting towards charges on wealth, consumption and pollution. At a time when dwindling saver confidence in the banking sector threatens to jeopardise the stability of the financial sector, Minister Van Peteghem decides in 2023 to take measures to boost competition within the banking sector. He succeeds in getting the banking sector moving by issuing a one-year state bond for the first time, which became the largest financial operation in Belgian history. As minister responsible for Belgian Customs, he joins them in the fight against international drug trafficking. For the first time in years, firm investments are being made in people and resources at Customs. A resolute chain approach is being pursued through intense cooperation with source and partner countries. Minister Van Peteghem is also making his mark internationally. For instance, he was a pioneer in finding a consensus at OECD and European level for the introduction of a global minimum tax for multinationals and a reform of the Stability and Growth Pact. Vincent Van Peteghem (43) is married to Evelyn and father of three daughters, Josephine (2017), Florine (2019) and Olivia (2022).

Arlene McCarthy

Special Advisor to the Chairman of Bloomberg on Strategic Affairs

Bloomberg

Arlene McCarthy OBE is Special Advisor to the Chairman of Bloomberg on Strategic Affairs and Special Advisor to the Bloomberg Philanthropies Team on Climate, Climate Finance and Environment programmes. During 20 years as an MEP, she chaired the European Parliament’s Internal Market Committee (2006-2009) and was Vice Chair of the Economic Committee and Monetary Affairs Committee (2009-2014). She was named as one of the top 100 influential women in European finance in 2010, 2011 and 2012 and was awarded MEP of the year in 2014 for her work in financial services. She was also awarded an OBE in the Queen’s 2015 New Year’s Honours List for Parliamentary and Political Services.