Budget compromise: Austria relies on stability and securing the future!

Budget compromise: Austria relies on stability and securing the future!

On January 16, 2025, the acting ÖVP club chairman August Wöginger presented the new budget schedule at a joint press conference with FPÖ MP Hubert Fuchs. This was announced as an important step towards stability and security for Austria. The goal is to reduce the Maastricht deficit to below three percent this year, which means a consolidation of around 6.3 billion euros for 2025. Wöginger emphasized that the EU deficit procedure could be averted through intensive negotiations, which is seen as a great success. He expressed special thanks to the Ministry of Finance and the officials involved for their work. These measures are crucial to ensure confidence in public finances, as well courier.at reported.

Budget consolidation and reforms

A central point of the budget plan is spending efficiency through reforms that are expected to bring savings totaling 242.5 million euros this year. Wöginger explained that the retirement age needs to be reformed in order to save 150 million euros in an economic-friendly manner, as well as a reduction in the small additional earnings limit for recipients of unemployment benefit, which should bring in a further 82.5 million euros. In addition, a reduction in funding quotas is planned, which could enable additional savings potential of 3.18 billion euros. Wöginger also considers this to be essential in order to stabilize the budget.

The CEO of Wienerberger, Heimo Scheuch, expressed urgent demands on the government in a recent interview to strengthen Austria's industrial location. He emphasized the need for a policy that takes responsibility and actively reaches out to citizens. According to Scheuch, there has been a lack of continuous dialogue with the industry in the past. He pointed out that austerity could also have a negative impact on competitiveness, which is why he called on the future government to invest more in infrastructure and housing. According to him, a new spirit of optimism could be necessary in Austria in order to sustainably overcome the various challenges.