Frugal no more: New Dutch government promises to ramp up spending

FILE PHOTO: Netherlands' Prime Minister Mark Rutte attends a joint news conference with Greek Prime Minister Kyriakos Mitsotakis at the Maximos Mansion, in Athens, Greece, November 9, 2021. REUTERS/Louiza Vradi

AMSTERDAM (Reuters) - The Dutch government-in-waiting is promising a break with recent history with its aim to invest heavily in social spending, leaving behind years of austerity in the typically frugal Netherlands.

Faced with massive investments needed to secure a carbon-neutral economy by 2050 and helped by ultra low interest rates, the government's fiscal pledges presented this week contain generous spending plans ranging from sustainable energy to housing, education and childcare.