The State Secretary for Finance’s proposal assumes an average return of 5.33 percent. No distinction is made between investment types. The major disadvantage of this is that unequal cases are treated equally for tax purposes.

According to Triodos Bank, the levy implicitly favors investment products with a high financial return. Investors who opt for a combination of positive social impact, long-term horizon, modest risk and controlled financial return are placed at a disadvantage compared to those who opt for high-yielding investments with the associated risk.

It is difficult for Triodos Bank to understand why the tax authorities reward high risk (and often a short-term focus) and disadvantage investors with a social objective and a controlled risk profile. A real return system would solve the problem. In order to address its concern, Triodos Bank sent a letter  to the State Secretary in the run-up to the parliamentary debate.