Austerity Package Takes Form

Politics ♦ Published: February 7, 2012; 18:27 ♦ (Vindobona)

Although negotiations over the austerity package are not finished, first details are already known.

Austerity Package Takes Form / Picture: © Vindobona.org

According to first information, the austerity package has a volume of € 27bn. The federation´s share is € 21bn to € 22bn, provinces have to contribute € 5bn to € 6bn. New taxes could total € 7bn to € 8bn, cuts in public expenses should reach € 14bn. The package should contain actions for the next five years. Above all, retirement costs should be cut. Income taxes on…

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