The Netherlands will hold a general election on October 29 after far-right leader Geert Wilders pulled his Freedom Party out of the Dutch government earlier this week.

The Minister of the Interior Judith Uitermark posted the date on X Friday.

Wilders pulled the plug on the coalition after his partners rejected his latest proposals to curb immigration, plunging the European nation into months of uncertainty. A caretaker government is now in place after Prime Minister Dick Schoof tendered his resignation.

The fall of the coalition will negatively impact investment and consumption, Olaf Sleijpen, the Dutch central bank’s executive director of monetary affairs and financial stability, warned Friday.

Even after an election is held, coalitions can take months to build, meaning the Netherlands faces a lengthy period of a government which cannot deal with the most sensitive topics.

The parliament is expected to vote on a list of policy areas deemed “controversial” that the caretaker administration should avoid until after the elections.

Schoof on Wednesday urged lawmakers to consider international security, tariffs and the budget among uncontroversial topics to be handled by the caretaker Cabinet.

There was little reaction from the AEX Index, a gauge tracking the 25 largest stocks listed on the Euronext Amsterdam, which was trading flat as at 12:55pm CET.

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—With assistance from Patrick Van Oosterom.

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