Raidl raises profit distribution issue

Austrian National Bank (OeNB) President Claus Raidl has called on company bosses in Austria to increase the income of staff.The former Böhler-Uddeholm AG (BUAG) chief said today (Thurs) it was “not acceptable” that real wages were not rising this year despite the strongest economic growth since the crisis of 2008. Raidl suggested enterprises should pay employees more if profits rise.The businessman – who recently revealed plans to hold a referendum on Austria’s bureaucracy, which is considered as bloated and too expensive by many – also said equality issues must matter more in the country when it comes to economic aspects, salary levels and taxation schemes.Raidl stressed that incomes in many sectors would just climb slightly or even decline whereas the level of inflation is increasing. It was announced only some weeks ago that the average price of goods and services of all kinds in Austria soared by 2.4 per cent in January of this year compared to the same month the previous year. Some foodstuff prices even rose by two-digit figures, statisticians revealed.