Austria's new traffic light government: billion -dollar package for the state treasury!

Austria's new traffic light government: billion -dollar package for the state treasury!

Österreich - The Austrian government has set the course for drastic financial reform with a comprehensive consolidation package. In a courageous step, the traffic light government plans to pump around 6.4 billion euros into the ailing state treasury by 2025 to avert an impending EU deficit procedure, such as reported. With a strict package of measures, the budget is to be stabilized and the income is imposed. This includes the increase in various taxes, which are to relieve the state treasury from 2025.

A central point of the new plan is to raise gambling tax from 2 to 5 percent, which will bring income of around 50 million euros per year. In addition, the sales tax will be reintroduced to photovoltaic modules from April 1, which should bring in an additional 175 million euros. The tobacco tax is also increased: The adjustment could contribute around 50 million and up to 100 million euros to the state treasury in the first year, such as kosmo.at

unexplained savings and measures

The exact savings that are to be achieved in other areas by the planned cuts are currently unclear. In particular, the FPÖ and ÖVP have announced that they will check the grants in many social areas. It is expected that the Klimabonus program in particular is abolished, which could save 2.3 billion euros alone. The valorization of social benefits and the additional earnings for unemployed people are also on the brink, which could bring additional billions in savings.

Tax is to be increased, not only in terms of the tobacco tax already mentioned, but also in the gambling and digital area. It remains to be seen which specific measures the coalition partners finally decide and when exactly the details of the budget plans will be revealed. An overview of the planned steps is to be published on Thursday, which could change the financial policy framework in Austria.