• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Europe
Europe

Dutch king unveils $18 billion plan to help the middle class fight inflation

By
Molly Quell
Molly Quell
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Molly Quell
Molly Quell
and
The Associated Press
The Associated Press
Down Arrow Button Icon
September 21, 2022, 7:15 AM ET
Dutch King Willem-Alexander
Dutch King Willem-Alexander at the funeral of Queen Elizabeth II.Gareth Fuller—WPA Pool/Getty Images

THE HAGUE, Netherlands (AP) — Dutch King Willem-Alexander unveiled plans Tuesday from the Dutch government to help households squeezed by rising costs, in his annual address to the nation.

Inflation, energy prices and the war in Ukraine were just some of the “uncertainties” the country is facing, the monarch said in his annual speech, made every year on the third Tuesday in September. The speech is immediately followed by the release of the budget for the upcoming year.

Boos could be heard from the crowd as the royal family — just back from the state funeral of Queen Elizabeth II in London — traveled from their palace in The Hague to the National Theater by horse-drawn carriage in a pomp-filled ceremony.

“People are feeling increasingly uncertain about both the immediate and the longer-term future,” the king said, speaking to a joint sitting of both houses of parliament. He pledged an 18 billion euro ($17.9 billion) aid package to help low- and middle-income households.

Notably missing from the budget was an energy price cap that politicians and energy companies reached an agreement on Monday, although the king alluded to the plan in his speech. As recently as last week, Dutch Prime Minister Mark Rutte was resistant to the idea of a cap, saying any help would have to wait until the new year.

The measure sets a price ceiling for gas and electricity based on average use from January 2022. The government expects the limit to save households an average of 190 euros ($189) per month.

Around 10,000 people turned out to watch the procession, which took place for the first time since 2019 after two years of pandemic restrictions. Elementary schools in The Hague were closed so children could participate in the festivities.

“I just want to see the horses,” 3-year-old Emma told The Associated Press while waiting behind barricades along the route.

For the first time, Princess Amelia accompanied her parents. She turned 18 this year and is now expected to pick up a number of royal duties.

Not everyone was happy with the day. Protesters held signs saying “Not my king” and “Rutte must go.” One man carrying an upside-down Dutch flag, a symbol of anti-government protests, described his struggle with soaring gas bills and supermarket prices.

The police reported five people were arrested and they confiscated six tractors. Farmers, upset about environmental regulations restricting their operations, have been protesting over the past year by driving their tractors into The Hague. Last week, the city announced that no large vehicles would be allowed on the streets as a security measure.

Echoing the king’s sober sentiment, Finance Minister Sigrid Kaag told reporters, “It is not a festive time for many Dutch people” when she presented the official budget. The package includes an increase in the minimum wage, a reduction in income tax levels and an expansion of child and health care subsidies.

The new budget includes 3.9 billion euros ($3.9 billion) for Ukraine, in both military and humanitarian aid. Last month, the Dutch sent 90 soldiers to provide basic training for Ukrainian military personnel.

The government has also allotted one billion euros ($1 billion) to build housing for refugees. Hundreds of asylum-seekers have been sleeping outside of an asylum reception center in squalid conditions because there aren’t enough beds.

Bold hats could be seen around the city as part of the annual “hoedjesparade,” a tradition where women wear striking headgear to the event.

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.
About the Authors
By Molly Quell
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

Trump vows to reduce U.S. troops in Germany ‘a lot further’ than 5,000 as defense official says armed services were blindsided by move
EuropeMilitary
Trump vows to reduce U.S. troops in Germany ‘a lot further’ than 5,000 as defense official says armed services were blindsided by move
By Kirsten Grieshaber, Emma Burrows, Aamer Madhani and The Associated PressMay 2, 2026
3 hours ago
 Trump says he is reviewing a new Iranian proposal to end the war but ‘can’t imagine that it would be acceptable’
PoliticsIran
 Trump says he is reviewing a new Iranian proposal to end the war but ‘can’t imagine that it would be acceptable’
By Aamer Madhani, Sarah El Deeb, Cara Anna and The Associated PressMay 2, 2026
4 hours ago
Can the ‘blue economy’ deliver on its promise? Investors are starting see the ocean as an asset worth protecting
CommentaryConservation
Can the ‘blue economy’ deliver on its promise? Investors are starting see the ocean as an asset worth protecting
By Natalie Sum Yue ChungMay 2, 2026
5 hours ago
Iran juggles oil cuts and storage strain to resist U.S. blockade
EnergyIran
Iran juggles oil cuts and storage strain to resist U.S. blockade
By Anthony Di Paola, Ben Bartenstein, Patrick Sykes, Weilun Soon, Charles Gorrivan and BloombergMay 2, 2026
6 hours ago
Disney’s new CEO is exploring a ‘super app’ for theme park tickets, movies and more
Big TechMedia
Disney’s new CEO is exploring a ‘super app’ for theme park tickets, movies and more
By Thomas Buckley, Lucas Shaw and BloombergMay 2, 2026
6 hours ago
Apple raises Mac Mini’s starting price to $799 after AI frenzy drains supply
AIChips
Apple raises Mac Mini’s starting price to $799 after AI frenzy drains supply
By Chris Welch, Mark Gurman and BloombergMay 2, 2026
6 hours ago

Most Popular

Scott Bessent on financial literacy: 'it drives me crazy' to see young men in blue-collar construction jobs playing the lottery
Personal Finance
Scott Bessent on financial literacy: 'it drives me crazy' to see young men in blue-collar construction jobs playing the lottery
By Fatima Hussein and The Associated PressMay 1, 2026
2 days ago
Gen Z is rebelling against the economy with ‘disillusionomics,’ tackling near 6-figure debt by turning life into a giant list of income streams
Economy
Gen Z is rebelling against the economy with ‘disillusionomics,’ tackling near 6-figure debt by turning life into a giant list of income streams
By Jacqueline MunisMay 2, 2026
13 hours ago
Stop donating to Harvard and the Ivy League. There's a better option that MacKenzie Scott already figured out
Commentary
Stop donating to Harvard and the Ivy League. There's a better option that MacKenzie Scott already figured out
By Ed Smith-LewisMay 2, 2026
19 hours ago
The American household just took an 81% margin cut. Wall Street hasn’t priced it in
Commentary
The American household just took an 81% margin cut. Wall Street hasn’t priced it in
By Katica RoyMay 2, 2026
16 hours ago
Current price of oil as of May 1, 2026
Personal Finance
Current price of oil as of May 1, 2026
By Joseph HostetlerMay 1, 2026
2 days ago
A Chick-fil-A worker got fired and then showed up behind the register to allegedly refund himself over $80,000 in mac and cheese
Law
A Chick-fil-A worker got fired and then showed up behind the register to allegedly refund himself over $80,000 in mac and cheese
By Catherina GioinoMay 1, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.