Austria's new finance minister: Marterbauer between hope and crisis

Markus Marterbauer, a well -known economic expert in the Chamber of Labor, takes over the Ministry of Finance in Austria and is therefore the focus of intensive political disputes. The nomination of the 60-year-old, who is located on the left wing of the SPÖ, not only ensures concern among the coalition partners ÖVP and NEOS, but also within their own party. Chancellor in Spe Christian Stocker said that the personnel decision was not a declaration of war, but the election of Marterbauer underlines the tensions in the new coalition, which could possibly lead to new elections in the near future, how how krone.at reported.

Economic challenges and responsibility

Austria is in a difficult economic situation, which is characterized by a persistent recession, rising unemployment and high inflation rates. Marterbauer criticized the previous politics for their failure, and emphasized that high distributions to shareholders instead of sensible investments for companies are the main reason for economic difficulties. "The conservative economic policy that puts saving in the foreground has prevented future investments," he said in an interview with contrast.at. Marterbauer argues that a redistribution of wealth is necessary to strengthen consumption demand and reduce the savings rate, since the upper third-income third of the income has so far been tended to save.

In an example that illustrates the challenges, the KTM-AG was mentioned, which despite high dividend payments to the shareholders must now fight with layoffs. Marterbauer assumes that the solution must be in a cultural turn in capitalism that emphasizes the long -term preservation of companies instead of only serving short -term owner interests. He sees Austria on a wrong way and demands more government investments, especially with regard to the climate crisis, which could also offer an economic opportunity. Marterbauer is considered the central figure in the ongoing economic and political disputes, while the government is facing an official test.