For a long time the government did not show what the state is doing now to combat the enormous inflation. But now the motto is: “If the market does not work, politicians must intervene.” Today, Wednesday, the Council of Ministers will adopt an anti-inflation package. The main points will be presented shortly (see live stream above).
What has already leaked: According to information from the “Krone”, they want to ensure that energy companies pass on the cheaper wholesale prices to customers. A “statutory electricity discount” is coming. Apparently, the federal government is threatening to skim off excess profits if energy prices are not lowered. Measures will also be taken when it comes to food prices, but the only focus here is on transparency and scrutiny – for example, antitrust authorities need to be strengthened.
Social Affairs Minister Johannes Rauch (Greens) assumes that “funds” will also be needed in some areas. As far as energy prices are concerned, a decision should be made before the summer and implementation should take place in the autumn, ie before the next heating season. This has to be done much faster with food, as the minister emphasized on ORF on Tuesday evening.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
