Restructurations sectorielles et intervention publique en Belgique

Restructurations sectorielles et intervention publique en Belgique Since 1974 Belgian traditional sectors (steel, textile, glass, coat,...) have been facing important financial difficulties, which compelled them to seek both increased productivity through more capital intensive techniques, and goods with higher valued added. This twofold evolution implied investments and job-reductions that could hardly have been possible without adequate public policies. As far as steel and textile are concerned those policies used mainly a common scheme based on public financial intervention and social measures. Public financial support required to cover annual losses and investments consisted of either grants or state equities. It amounted to over 200 billions BEF. Besides, policies were designed in favour of people losing their jobs: early retirement was made possible and was even accompanied with tax cuts. However the budgetary cost of those policies is very high, they may be considered successful as Belgian producers now seem able to stand unternational competition.