Day of 2026-07-05: Weekend Notes, Politics, Passive Income & Portfolio Update

The administration has now agreed on a package of reforms covering income tax, insurance, and labor regulations. The headline announcement is a promised €600 tax relief, accompanied by significant changes to social security guarantees and a further liberalization of the labor market for employment outside collective bargaining agreements.

The practical impact is where my questions begin. Around 60% of workers earn below the average income, and many of them are already employed outside union contracts. I am curious how this group is expected to fully benefit from the promised tax relief. At the same time, capping the total insurance contribution effectively means future increases in healthcare and insurance costs will be managed by reducing what the same contributions cover. From my perspective, that represents a reduction in benefits rather than a genuine cost reduction. Planned changes to maximum daily working hours also appear likely to affect workers outside collective agreements the most.

Ultimately, I wonder how these measures will be presented to the very voters they are intended to convince. Promising tax relief while simultaneously reducing insurance coverage and increasing labor flexibility raises questions about who will ultimately benefit from the complete package rather than just the headline announcement.

On the crypto side, my LeoStrategy allocation has started producing DRIP rewards again. Unfortunately, the manager responsible for switching the rewards to $HBD is currently unavailable, so the rewards continue accumulating in their default form. It is a small operational detail, but one worth monitoring as it affects how efficiently passive income can be redirected.

Portfolio Movement (1 Jul → 5 Jul)