An economist has rubbished claims that only the financial sector is to blame for the crisis. Stefan Bruckbauer, the chief economist of Bank Austria (BA), said on Saturday: “I don’t claim that banks are totally innocent since they financed the debtors.” Bruckbauer told the Kurier the Republic of Austria had to invest 1.7 billion Euros […]
Tag: state
Upper Austrian People’s Party (ÖVP) Governor Josef Pühringer has put the federal government’s cost reduction course into question. Pühringer said today (Tues): “Everybody who thinks that subsidies could be reduced by billions of Euros is wrong.” The ÖVP wants to reduce the state’s annual spending on private and public companies, cultural institutions and various organisations […]
The feud of the government parties is intensifying after People’s Party (ÖVP) whip Karlheinz Kopf accused the chancellor of engaging in a class war. Kopf told the Kurier yesterday (Sun) that Werner Faymann would have to accept the main responsibility for a possible failure to agree to a savings package within the agreed deadline. Social […]
Berlakovich blocks possible cutbacks
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The pressure is increasing on People’s Party (ÖVP) Environment Minister Nikolaus Berlakovich as he keeps refusing to reduce spending on the agricultural sector. The environment and agriculture minister claimed yesterday (Tues) subsidies on the domestic agricultural industry were ensuring farmers’ existence. He warned that cuts could ruin the Austrian agricultural sector. His appeal comes after […]
Prammer backs tax increases
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Parliament speaker Barbara Prammer has branded suggestions to restore the state budget without any tax increases as “illusory”. The Social Democrat (SPÖ) – who reportedly considers running for president in 2016 – told the Kurier that “the weak have to be protected”. Prammer stressed she did not want to give her point of view on […]
Raidl says income tax must drop
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Austrian National Bank (OeNB) President Claus Raidl has called on the government to lower taxes on labour. Raidl told Die Pressr today (Weds) the taxation burden on labour must decline. He called Austria’s income tax system as “insane”. International organisations like the OECD, the Organisation for Economic Co-operation and Development, and the International Monetary Fund […]
Pilz opposes pay freeze
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A veteran Green Party member has spoken out against the government’s decision not to increase politicians’ wages next year. The coalition of Chancellor Werner Faymann’s Social Democratic Party (SPÖ) and Foreign Minister Michael Spindelegger’s People’s Party (ÖVP) said on Sunday members of the parliament (MPs) would not get more in 2012. Delegates’ salaries were most […]
ÖBB justifies ‘dumping prices’
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Federal Railways (ÖBB) has defended the introduction of crash prices. A spokeswoman for the company said today (Fri) criticism of the latest move was “incomprehensible” since the customers would eventually benefit from it. ÖBB caused a stir by presenting a programme featuring 25,000 tickets for 15 Euros each for its western railway link connecting Vienna […]
ÖBB unionist quits
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Federal Railways (ÖBB) works council boss Wilhelm Haberzettl has decided to retire. The Social Democrat (SPÖ) announced on Saturday it was “time for a change. Younger talents should come forward.” Haberzettl said he would quit as head of the ÖBB staff representation on 22 November. The 56-year-old left-winger added he had no plans to retire […]
Austrian AAA ‘at risk’
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A leading economist has warned Austria may lose its top credit rating. Bernhard Felderer said yesterday (Weds) the alpine country’s outlook may be downgraded by the world’s leading rating agencies due to the economic turmoil in Italy. Austria has close business ties with the country which borders it in the south. Italy has been one […]