Austrian Economy Pushes for Austerity

People ♦ Published: January 5, 2012; 16:50 ♦ (Vindobona)

In order to prevent new taxes, the Austrian Chamber of Commmerce and the Federation of Industries call for austerity measures.

Austrian Economy Pushes for Austerity / Picture: ©

According to Christoph Leitl, President of the Austrian Chamber of Commerce (WKÖ), a substantial cut in expenditures would be needed in order to restructure the budget. Leitl supports Vice-Chancellor Michael Spindelegger, who emphasized to implement structural reforms instead of imposing new taxes. “New taxes are not needed. And they would be extremely harmful for the economic growth…