BUSTED: The Dutch government's budget deficit will bust European Union targets imposed to keep the region's economy under control, a government think tank said Thursday.

TOO HIGH: According to draft Central Plan Bureau calculations, the deficit is currently at 4.5 percent of gross domestic product and will remain there next year if the government does not rein in spending.

RETOOLING: Leaders of coalition parties will meet next week at Prime Minister Mark Rutte's official mansion to hammer out a package of extra budget cuts to bring down the deficit to the EU-mandated level of 3 per cent of GDP.