Vienna is growing – and with it the mountain of debt. Over the next two years, capital will spend four billion euros more than it receives. There is record spending on minimum income.
First the good news: as the city grows, more money flows into the coffers. And now the bad news: Vienna definitely needs more than we get. The result: record debt. Finance Councilor Peter Hanke (SPÖ) has now confirmed this when presenting the double budget for 2024 and 2025.
In concrete terms: The size of the future double budget of the city of Vienna amounts to a total of 40 billion euros. Euros, of which 19.8 billion euros will be allocated to 2024 and 20.2 billion to 2025. Most of the money will flow to the healthcare, social services, education and childcare sectors. Health and social issues in particular leave a big hole in the budget.
Without minimum security, only half of the debts
Here too there has been a significant increase. The largest percentage increase occurs in the healthcare sector, which, at 6.4 billion euros, will receive an 18.5 percent increase in budget than in the previous double budget. Together with the social sector, which receives 5.6 billion euros and largely covers the resources for healthcare, this is also a response to the demographic development of the city of Vienna. The minimum income takes up a large part. The city spends almost a billion euros on this every year. Without Midnestsicherung, Vienna would have only half as much debt. “This obviously poses a challenge for the health and social services sectors, which the city is addressing with this budget increase. We are committed to a strong health and social system in which we leave no one behind,” said Hanke.
Even bigger pieces
The situation is similar with the spending priorities for education (+16%) and childcare (+18%). About 290,000 people in Vienna are under the age of 15 and therefore have compulsory education. This means that there have never been as many children in primary education and primary school as now. “For the Progress Coalition, investments in education and childcare are also an investment in the future of the city of Vienna. “We offer the best conditions and opportunities for our youngest Viennese and their parents, a good framework to combine family and work,” says Hanke. That is why a total of around 7.4 billion euros is spent on this, of which 4.9 billion euros goes to education and 2.5 billion euros to childcare.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
