Companies are moving their investments abroad because energy and wages are much more expensive than in neighboring countries. In addition, there are high taxes and a decreasing willingness to perform among some employees. Austria is falling behind in the competition. “Hot irons” must now be addressed urgently.
As the newly elected chairman of the industrial association in Lower Austria, heat pump entrepreneur Karl Ochsner does not mince his words in his first major interview: “It is now about the location. We have been losing in the competitiveness rankings for years, have significantly higher energy costs than Germany and other competitors, and now also have high wage agreements, high tax burdens and a shortage of workers.
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.
