Budget renovation 2025: FPÖ warns of tax burden for families and low earners!
Budget renovation 2025: FPÖ warns of tax burden for families and low earners!
On May 22, 2025, the ÖVP, SPÖ and NEOS presented the second part of the Budget Sanating Measurement Act (BSMG), which many viewed as a stress package for taxpayers. Alexander Petschnig, the FPÖ's money and monetary policy spokesman, critically commented on the planned measures and describes the law as an accumulation of tax and fee increases, which above all burden low-wage earners, families and consumers. The planned increases come at a time of high inflation and inflation in Austria.
Petschnig emphasizes the associated negative effects, especially on pensioners and households that will suffer more from the return of the cold progression. Experts and political representatives see the draft as a failure and warn of a loss of trust between the citizens in the Federal Government's economic policy promises. There is also resistance within the ÖVP, especially from state governments in Vorarlberg and Burgenland.
financial savings and tax increases
As part of the Budget Sanating Measure Act 2025 (BSMG 2025), numerous tax changes are planned, which largely come into force from April 1, 2025. The measures taken is the extension of the top tax rate of 55% for income over 1 million euros by the end of 2029. The additional volume is estimated at around 50 million euros per year. In addition, the VAT exemption for photovoltaic systems does not apply, which could bring in an additional amount of around 175 million euros in 2025.
Further increases concern the betting fees that are increased to 5%, as well as the engine-related insurance tax, which now also includes e-cars. Tobacco tax is also increased, which could bring up to 50 million euros a year to additional income. The location contribution for banks and the energy industry were also increased, which results in additional income of around 350 million euros per year.
long -term savings and reforms
Finance Minister Markus Marterbauer is planning savings of EUR 1.24 billion by 2025 and 1.65 billion euros by 2026. One of the largest austerity measures is the planned abolition of educational leave, which is scheduled to save 350 million euros in 2025 and 650 million euros in 2026. A new regulation for 2026 has already been promised. The abolition of the climate monus is also on the agenda, with a partial compensation for commuters from 2026.
The entire package is part of the first consolidation steps of the new federal government, which focuses on growth and employment-promoting, socially acceptable measures. However, it remains to be seen whether these measures will bring the hoped -for positive effects to stabilize the economy or whether, as feared by Petschnig, they lead to a further burden on the already highly stressed households.
In addition, leading institutions such as the National Bank draw a dark picture of the future of private consumption, investments and the export industry in Austria. An increasing number of corporate insolvencies and decreasing competitiveness give rise to concern and increase uncertainty among households that are willing to reduce their consumption and save more.
The construction of the budget renovation measures law and the associated savings are not only a question of numbers, but also considerably affect the economic trust of the population.
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