Austrian Government Presents € 27bn Austerity Package

People ♦ Published: February 11, 2012; 14:58 ♦ (Vindobona)

The largest austerity package in Austria´s history mainly consists of cuts in expenditures. The government emphasized the socially balanced measures and the necessity due to reasons of competitiveness.

Austrian Government Presents € 27bn Austerity Package / Picture: © Vindobona.org

The governing parties SPÖ and ÖVP are satisfied with their announced austerity measures. The package has a volume of € 26.5bn and has impacts on the public budgets until 2016. SPÖ´s chairman and Federal Chancellor Werner Faymann emphasized that there are no mass taxes. The package would be “reasonable and fair”. Faymann mentioned that the measures are necessary in order to…

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