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Austrian Government Presents € 27bn Austerity Package

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: © Flickr

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…

This article includes a total of 460 words.

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