59

Generational accounting is undoubtedly a useful addition to traditional measurements of budget deficit if used with clarity and caution. As far as Belgium is concerned, future generations will see their net taxes grow by at least 61% in comparison with those of current newborns. Yet this generation is already suffering an imbalance in relation to that of its parents and grandparents. Pensions and health are, moreover, the two heaviest burdens facing future generations, even in comparison with consolidated government debt. The restoration of a certain balance, if only in terms of the consistency of public finance, would probably entail reducing transfers in these fields.