Samenvatting

Do the budgetary consequences of an acute crisis make us less willing to tackle long-term challenges? This paper asks whether the recent ­COVID-19 crisis has affected the willingness of parties to commit to so-called ‘policy investments’. These are policies where short-term costs are accepted in anticipation of higher benefits in the longer run. Theoretically, there is no unambiguous prediction as to whether the recent crisis plays a role in repositioning party preferences regarding policy investments. In light of this theoretical ambiguity, this article aims to provide an empirical answer by measuring and comparing party positioning regarding policy investments of Dutch parties during the two general elections for the House of Representatives (Tweede Kamerver­kiezingen) of 2017 and 2021 respectively. To identify which proposals qualify as policy investments, and measure the corresponding willingness to engage in them, the article builds on calculations of the budgetary impact of party manifestos provided by the Netherlands Bureau for Economic Policy Analysis (Centraal Planbureau; Keuze in Kaart). The subsequent analysis shows that overall willingness of parties to engage in policy investments has increased during the COVID-19 crisis; suggesting that the tension between addressing short- and long-term challenges is less strict that often suggested.