The state of Upper Austria has indicated that it is prepared to support employees affected by the impending bankruptcy of KTM AG. However, liability is not legally possible, emphasizes governor and financial officer Tomas Stelzer (ÖVP).
“Of course we as politicians want to help and support the location. We are doing everything we can to save the factory and the jobs,” Stelzer said in a statement to the APA. But: “EU state aid law and insolvency law currently de facto exclude liability.” The country is “in any case present when it comes to helping the affected workers – together with AMS and social partners.”
Performance incentives and faster procedures
“It is important that business continues.” Upper Austria is still a strong location for companies, even if the situation is difficult. “But we have the strength to get out of there and prevent a downward spiral,” Stelzer is convinced. Given the economic situation, he hopes that there will be a government that can act quickly and calls for performance incentives and faster procedures to support the economy.
Victim of the “black-green wrecking ball”
His governing partner, Governor Manfred Haimbuchner (FPÖ), sees KTM as a victim of the “black-green wrecking ball” and “the anti-business climate of recent years is now bearing bad fruit.” He used the situation to launch a sweeping attack on political competition. Chancellor Karl Nehammer and his ÖVP have ‘recuperated’ the location and now want to ‘enter into a coalition with an outspoken Marxist’. The black-green coalition engaged in expensive ‘gold-plating’ with its climate neutrality target for 2040.
Management errors in green spaces
The Greens, on the other hand, note management errors: it has long been known that emission standards for motorcycles would become stricter and that continuing to produce the well-known products would circumvent this. “The fact that the net debt has risen to 1.5 billion euros within two years and yet significant dividends have been consistently paid out is not a bad idea from the current perspective,” says spokeswoman Dagmar Engl of the Green Economy together with labor market spokeswoman Ulrike Schwarz, she exclaims. to a “huge” involvement of billionaire Pierer (Stefan, note) in the restructuring of KTM”.
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.
