Finance Minister Markus Marterbauer (Spö) held the budget speech in parliament on Tuesday. The state of the state budget is “worrying” and vulnerable due to the rising interest rates. To prevent these dependencies on capital markets, the budget must now be renovated, said Marterbauer.
“I would have liked to have submitted a budget that includes investments for the future. But the circumstances are not that (…). But we will not renovate the budget from joke and tolerance.” Marterbauer clarified that he preferred to invest the money in areas such as education and climate protection than in interest. The budget was established in ten weeks, various views for economic policy were “used productively”. It had the right to spread renovation loads fairly. So those who have more should contribute more to the budget of the state, Marterbauer said Tuesday.
As reported, the shortage of Austria is expected to fall to 4.2 percent by 2026. This year, 6.4 billion euros must be saved in the next 8.7 billion euros. According to De Marterbauer, about a third of the savings are in turnover, two -thirds is outstanding. Saving is stored in the social and family sector, for example, in the climatic and climate bonus.
The climate policy of recent years was characterized by expensive measures. “We cannot afford a targeted, surplus requirements.” Counter financing would need tax cuts, said Marterbauer. He mentioned the abolition of cold progression and non -wage costs as examples.
“Austria can, if wants,”
Austria has been doing badly since 2022 compared to other EU countries. For example, inflation was higher to go back to economic output for the third time in a row. These developments would sharpen the social inequality in the country, the Minister of Finance said. Private households are restless and would be saved more and more. This in turn weakens the economic dynamics in the country.
“Once the poor house in Europe”
Austria can, however, be convinced that Austria can be convinced if it wanted. It would need the spirit of a common basis for the renovation of the state budget, but also transparency and clarity about the goals. Data and facts should be on the table. The minister also promised to regularly inform the public about the budget. The interest costs for the government debt should not always grow further, extra input and a higher demand for consumption are needed.
The politician recalled that Austria was once the poor house in Europe, but later successfully overcame the oil price shocks and the bank crisis.
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.
