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S&P Warns Austria of Election Gifts

Politics ♦ Published: February 19, 2013; 18:41 ♦ (Vindobona)

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This year, Austria will hold federal elections. According to S&P, expensive election gifts may reduce the credit rating outlook.

S&P Warns Austria of Election Gifts / Picture: © Vindobona.org

S&P´s analyst Alois Strasser warns the Austrian government of distributing “expensive election gifts” like in September 2008. Four days before the election in 2008, the Austrian National Council decided to abolish university fees, to cut the VAT on drugs and to increase pensions and family aids. Within the scope of the two austerity packages in 2010 and 2012, the Austrian…