Meinl-Reisinger warns: does Austria's savings plan not come in time?
Meinl-Reisinger warns: does Austria's savings plan not come in time?
Österreich - Vice Chancellor Andreas Babler and Finance Minister Markus Marterbauer, both from the SPÖ, advocate the continuation of the government's austerity course. This became clear as part of the ongoing discussions about the budget situation today, April 13, 2025. While the fiscal council forecast a deficit of 4.4 percent of gross domestic product (GDP) this year, Neos club chairman Beate Meinl-Reisinger expresses that the planned savings measures may not be sufficient to achieve the desired renovation volume of 6.4 billion euros. These statements underline the uncertainty that is currently in the political landscape.
It was originally expected that savings of 6.4 billion euros could avert an EU deficit procedure. Now, however, only the fulfillment of the basic requirements of the EU Commission is expected. Meinl-Reisinger therefore demands extensive structural reforms that are necessary to sustainably renovate the budget. A central point of their criticism is the tax autonomy of the federal states, since the federal government mainly generates the tax revenue, while the distribution is carried out by complicated financial equalization.The challenges in the health system
Meinl-Reisinger also sees inefficiencies in the health sector caused by the large number of actors involved. The monthly fluctuations in the budget numbers and the late publication of the data from the federal states and municipalities, which were only available at the end of March, also contribute to uncertainty. It appeals to the government to make changes that ensure earlier and more transparent data availability.
Another topic that the Neos pick up is the critical monitoring of messenger services. A corresponding draft law is currently available for assessment, with a constitutional measure that also provides for a longer assessment period for possible improvements.
EU initiatives to improve the economic situation
In parallel to these domestic political challenges, the European Commission presented a new strategy to create a savings and investment union. This was led by the Commission President Ursula von der Leyen, who emphasized the advantages of this Union for the citizens and the investments in essential sectors. The aim of this initiative is to promote prosperity, economic growth and competitiveness within the EU. According to the Draghi report, the investments could increase to 750 to 800 billion euros per year by 2030.The savings and investment union are aimed at, especially small and medium-sized companies as well as innovative companies. Despite the approximately 10 trillion euros in bank deposits in the EU, which are classified as safe, but often less profitably, this initiative should enable better returns for savers through capital market facilities. The four work areas of the Union defined by the Commission include:
- Citizens and savings assets: Increasing investment options for private customers.
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Investments and financing: Improvement of access to capital for companies. - Integration and size: Reduction of obstacles for cross -border transactions.
- Efficient supervision in the internal market: Equal treatment of all financial market participants in the EU.
In the current political and economic situation, close cooperation is required for both the federal government and the EU to cope with the financial challenges and at the same time strengthen the trust of citizens in the stability of the economy. The dialogue about necessary reforms and innovative measures is essential to find long -term solutions.
EU-Kommission Extreme ...
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