January is a time of restraint, tightening purse strings after splashing out at the end of the year and if you can, putting funds aside for a summer holiday or a winter gas bill. It's that point in the year where you feel as if everyone's on the same page, hunkering down with a focus on good habits that later will pay off.
This impression of collective temperance is fed by a team spirit which stands against the daunting obstacles – both known and unknown – that are coming our way. But the sense of power in numbers is shaken somewhat when you are reminded of how astonishingly well-off a small portion of society is.
The term "jackpot day" denotes how long it takes for the CEO of one of Belgium's top 20 companies on the stock exchange to accrue the national median annual salary. And in 2024, jackpot day is today.
Honestly, I'm not ready to test my New Year's resolve by ruminating on what I might do if I had already earned €54,000; I'm still figuring out what's achievable in the coming weeks and months.
What I do know is that wealth inequality is growing and economic hardship is distributed unevenly, the burden weighing much more on those of more modest means. Already this year, a Bel20 CEO will make 50 times the median annual salary – last year it was 48. The resulting concentration of wealth makes the gap between the very rich and normal people grow at an alarming rate.
To picture the disparity between incomes, the Gini coefficient is instructive – an economic metric that quantifies the difference between salaries at a national level. Put beside other nations, Belgium is less unequal than many developed nations and often performs strongly in global comparisons, thanks largely to robust social protections and the automatic wage indexation.
Nonetheless, we are clearly a country of haves and have-nots, which becomes problematic on the societal level and gives rise to a divided population – an issue that becomes more glaring in the runup to elections. Moreover, the inequality is difficult to address without targeted efforts to rein in rampant wealth. Yet proposals for a wealth tax tend to be a partisan cause that accentuates political clashes rather than resolving differences.
Whilst I don't wish to distract from earnest efforts to live within our means, spare a thought for Belgium's hyper-rich. Wouldn't it be nice? Let @Orlando_tbt know.
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1. Jackpot Day: Bel20 CEO earned as much today as year's wage of 'ordinary' employee
Tuesday 9 January has been dubbed CEO jackpot day by a Belgian union. The bosses of Belgium's largest companies will have already earned as much by this day as an ordinary employee in a year. Read more.
2. 'A plaster on a bullet hole': Brussels activates Extreme Cold plan for homeless people
"It is as if, every year, the authorities are surprised that it is cold in winter." Read more.
3. Belgium's biggest corruption scandals
From dodgy defence contracts to toxic food contamination, the shadow of corruption has fallen on Belgian politics and society time and again. Read more.
4. How to avoid car trouble in sub-zero temperatures
From more road accidents to battery problems, freezing temperatures can be a real headache for motorists. Luckily several measures can be taken to avoid these issues. Read more.
5. Brussels YouTuber who threw dog faeces over metro passengers arrested
Brussels YouTuber 'YaNike' – identified by the Federal Public Prosecutor's Office by his initials Y.D. – who poured a mixture of oil, water, leaves and dog faeces over passengers on a STIB metro in November, has been arrested, the authorities announced. Read more.
6. Almost €900 million in irregular income declared in 2023
Belgium's national budget will enjoy a windfall in 2024 thanks to an influx of requests to regularise undeclared income before 1 January 2024, which was the final deadline to do so without facing legal consequences. Read more.
7. Is Anne Teresa De Keersmaeker the greatest dancer?
Anne Teresa De Keersmaeker could be the world’s most influential dancer, whose choreography has inspired art across the genres and platforms. Read more.
