Parties in financial chaos: ÖVP and SPÖ deep in debt!

Parties in financial chaos: ÖVP and SPÖ deep in debt!

The transparency rules for political parties in Austria have taken an important step towards disclosure of assets and debts. These new regulations, which came into force in 2022, are now applicable to the 2023 annual reports for the first time. Until now, parties were only required to report their income and expenses. But now they have to provide detailed information about their financial circumstances, including assets, liabilities and bank connections, such as Small newspaper reported.

Assets and debts in detail

The initial figures show a differentiated picture: While the FPÖ, the Greens and the NEOS impress with millions in their bank accounts, the ÖVP and SPÖ are in a significantly worse position. The FPÖ reports an impressive net worth of 8.2 million euros, followed by the Greens with three million euros and the NEOS, which can also report three million euros. In contrast, the ÖVP's numbers look very unfavorable: Despite previous efforts to reduce debt, the party currently has loans amounting to 3.3 million euros and other liabilities of around two million euros, which leads to a negative net worth of 5.65 million euros. Although the SPÖ has reduced its bank debts from six to four million euros, it remains heavily indebted with total liabilities of 3.0 million euros, as is the case with the SPÖ ORF.at is to be read.

This precarious financial situation could have a major impact on the political landscape during the upcoming election campaigns. The Court of Auditors is obliged to examine the documents submitted by the parties, as the published reports are unaudited for the first time. The next annual reports are expected next year, and it remains to be seen whether the parties' financial situation will stabilize or even worsen by then.