Austria's finance minister plans drastic savings - what is now coming!

Austria's finance minister plans drastic savings - what is now coming!

Austria faces a significant financial challenge after new data from the EU Commission were published on Sunday, which showed a savings requirement of up to 24 billion euros. Finance Minister Gunter Mayr confirmed that the country must urgently take measures to reduce the massive budget deficit, and numerous “sugar” seem to be on the prank list for the population, including the climate monus and educational leave. The measures agreed by the coalition provide for a possible saving of 6.3 billion euros in 2025, while 8.7 billion euros are to be saved for 2026, such as kleinezeitung.at reported.

The concrete plans in the so -called Budget renovation measures for 2025 include the abolition of sales tax exemption for photovoltaic systems, the cancellation of special levies to electric vehicles and a drastic increase in tobacco taxes. The educational leave is also particularly affected: from April 2025 the further training allowance will also be abolished, as can also be read at krone.at . These measures are intended to help consolidation of a total of 0.9 billion euros this year, while the budget provisional was legally fixed in order to create more flexibility until the Federal Finance Act is finally adopted.

tightening of the tax laws

A central point in the financial plan is the extended energy crisis contribution, which will take place from April 1. This tax is increased to oversprints of electricity producers with a set of 95 percent, which causes discussions in the industry. The government is responding to the need to generate further income without increasing the energy prices for consumers. The regulations are part of the broader efforts to secure financial stability and to adapt the budget within the meaning of EU requirements. The abolition of social benefits such as educational leave is seen as a crucial instrument in order to achieve short -term savings and to strengthen the trust of the EU into Austrian financial policy.