Drastic austerity measures: National Council decides savings of over 1.2 billion euros!

Drastic austerity measures: National Council decides savings of over 1.2 billion euros!

Kosmo, Österreich - The National Council decided in a crucial step of drastic savings of a total of
289 billion euros by 2026. These austerity measures, which affect education and tax law in particular, were described by Finance Minister Markus Marterbauer as the necessary adaptation of the federal budget to the current challenges. As part of the first meeting after the government formation, extensive budget consolidation measures were passed to save 1.24 billion euros by 2025 and 1.65 billion euros by 2026, such as kosmo reported .

essential measures of the government

A central point of the measures is the abolition of educational leave, which is to enable savings of 350 million euros in 2025 and 650 million euros in 2026 by 2026. From April 1, 2025, extensive tax changes will also come into force. Among other things, this includes increasing the top tax rate to 55 percent for income over 1 million euros, which is intended to bring in an additional 50 million euros annually. The abolition of the climate bonus is also offset by a partial compensation for commuters in 2026, so wikipedia .

In addition, the tax amounts are increased to banks, while the energy crisis contributions are also to be extended by 2030. All of these measures are designed to stabilize the household and significantly improve the country's financial situation. The government is confronted with ensuring the budget in the face of economic challenges and at the same time maintaining leading public services.