Wennink: use savings for technology
Wennink says that investments in important technology should be exempt from box 3.
Published on March 10, 2026
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Former ASML CEO Peter Wennink believes that the Netherlands should take a different approach to capital gains tax, he told BNR. Among other things, he said that investments in important technology should be exempt from box 3. According to him, this could unlock hundreds of billions of euros in investments. He believes that four important sectors are digitization and artificial intelligence, energy and climate technology, biotech, and security technology.
Discussion about box 3
The rules for box 3 have been under fire for weeks. The House of Representatives previously agreed to a temporary system that is to take effect in 2028. That plan also levies tax on capital gains that have not yet been realized. This has been widely criticized. The cabinet has therefore announced its intention to amend the plan.
Money for innovation
According to Wennink, there is a lot of capital in the Netherlands that could be put to better use. Pension funds and savers together have approximately €2,500 billion available. That money is currently often held in savings accounts or investments that fall under box 3.
If investments in important technological sectors are exempt from box 3 tax, he believes it will become more attractive to invest that money in innovation. Start-ups and scale-ups would then find it easier to obtain financing. Currently, they are often dependent on subsidies, banks, or venture capitalists.
Wennink is considering, for example, investment funds in which private individuals can invest their savings. Because the risk in such a fund is spread, investing remains accessible, while the tax exemption makes it more financially attractive.
Ideas about state pensions too
In addition to box 3, Wennink had another idea: a proposal for state pensions. The government wants to increase the retirement age in line with life expectancy. Wennink acknowledges that aging is a growing problem, but believes there are ways to find extra money and ease the financial pressure.
According to him, the AOW can also be financed differently. He proposes taking people's income and assets into account to a greater extent. Wealthy pensioners would then receive less or no AOW, while people who need it would receive more support.