Economist Jan Kluge from Agenda Austria says in an interview on krone.tv when asked how the population in this country can get more income and disposable money again: “We are not doing well in international comparison when it comes to taxes on labor. ” this in a country where there is already high inflation.
Moreover, the willingness to work a lot is increasingly decreasing: “We have become a part-time country. Full-time jobs remain constant, but part-time jobs are increasing.” But this does not only have to do with raising children: women and men without children are also increasingly working part-time.
How do you get “System Austria” going?
And how can we get the “Austrian system” in general going again? According to Kluge, it is right to reduce the input tax rate, as Karl Nehammer announced in his Austrian speech, but he adds: “This will make part-time work even more attractive. However, nothing will be reduced in the middle tax brackets. Only that would encourage full-time work.”
The Agenda Austria economist sees two areas as important tasks for the future, which were not discussed at all in Nehammer’s speech in Austria: a broadly supported pension reform and a reform of federalism. Above all, a pension reform would be essential: “There are essentially three options: work longer until retirement, pay less pension or increase contributions.” But that’s a hot potato and will likely no longer be addressed by the current administration.
We explain what Austria is currently dealing with: the latest news conversations with politicians and experts.
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.
