The OECD (Organisation for Economic Co-operation and Development, footnote) recently criticised Austria’s high national debt and pension spending. Chancellor Karl Nehammer (ÖVP) appeared calm on Thursday. ‘Sensible economic growth’ and a ‘sensible budget plan’ would help.
“We have four and a half years of crisis management behind us, which has cost a lot of money,” the Chancellor said in Dornbirn on Thursday. Today, there are no longer many “necessities.” “With reasonable economic growth and a reasonable budget plan, we have the opportunity to consolidate.”
Austria is “on average in the EU” and its budget deficit is likely to remain below the Maastricht threshold of three percent. According to the politician, savings can be made primarily by restructuring the financing system; support measures should be implemented on a selective basis rather than in the long term.
Increase the actual retirement age
Regarding the OECD proposal to adjust the retirement age to the longer life expectancy of the population, Nehammer stated that the reform is only now starting to have an effect. There is no need to talk about a higher retirement age than 65, as long as the actual age is 62. But working longer must be worth it.
NEOS: “Completely irresponsible”
The NEOS chancellor’s statements were criticized on Thursday. “Such false and irresponsible statements underline once again that we can no longer leave the Ministry of Finance to the ÖVP in a future government,” said budget spokeswoman Karin Doppelbauer. Not implementing reforms is “completely irresponsible.” “Because only through a debt brake and targeted structural reforms in large expenditure blocks such as federalism or pensions can the billions be saved that we need, so that young people still have all the opportunities and a good future. have,” it says in a press release.
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.
