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Austrian Economy Pushes for Austerity

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: © Flickr

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…

This article includes a total of 228 words.

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