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Austrian Court of Audit Rechnungshof

Austria Suffers from Company Exodus

Due to the relocation of businesses, the Austrian state has lost tax intake of € 1.3bn since 2008. The Austrian group taxation model must not be abolished experts of the Austrian Ministry of Finance say.

July 22, 2013

Federation of Austrian Industry Defends Group Taxation

The Federation of Austrian Industry (IV) argues that the Austrian business location would be endangered without the group taxation.

July 20, 2013

Austria: Purchasing Power Shrinks Considerably

Today, the Austrian Audit Court has published its report on the Austrian income situation. Since 1998, real incomes went down drastically.

December 19, 2012

Austrian Gold Stored in UK

80% of Austria´s gold reserves are stored in the U.K. Only 17% of the reserves are kept in Austria.

November 24, 2012

FMA: „Austria is Open to Blackmail by Banks”

Kurt Pribil, director of the Austrian Financial Market Authority, thinks that the nationalization of banks has shown that the Austrian state is still under pressure.

October 23, 2012

Banking Package: Austria to Lose Billions

Hannes Androsch, member of the publicly owned bank holding company Fimbag, fears that Austria´s losses will be substantial.

October 22, 2012

Austrian Audit Court Criticizes Nationalization of Kommunalkredit

According to the Austrian Audit Court, the former owner of Kommunalkredit VBAG would have survived without the nationalization.

October 15, 2012

Banking Package: Costs up to € 4.8bn

The Austrian Audit Court expects that the banking package will be much more expensive than it was said before. Moreover, the Audit Court criticizes the government massively. The control mechanism would be too weak.

September 26, 2012

Austrian Budget: One Third for Pensions and Interest Spending

The Austrian Audit Court published a report on the budgetary situation today. Last year, expenses “for the past” already came at € 24bn.

September 19, 2012

Austrian Audit Court to Check Gold Reserves

According to rumours, only a small part of Austria´s gold reserves are located in Austria. The biggest part should be in London and Basel, Switzerland.

September 1, 2012

Austrian Government Debt on the Rise

The Austrian public debt level rose to 73.5% of GDP or € 222.6bn in the first quarter of 2012. Above all, the situation of Austrian municipalities is precarious.

June 29, 2012

Municipalities: Indebtedness Per Capita on the Rise

According to the Austrian audit court, indebtedness of municipalities was up significantly over the last years.

March 24, 2012

Fekter: „Austerity Package is Structural Reform Package“

In spite of criticism by economists, for the Austrian Minister of Finance, the austerity package is a “big success”.

February 20, 2012

Leitl Pushes for Reforms

The President of the Austrian Chamber of Commerce appreciates that actions worsening the Austrian business location conditions were prevented.

February 15, 2012

Rising Costs for Labor Market Service

The Austrian Labor Market Service (AMS) offered less trainings in 2011. However, costs rose up to € 455m. The AMS management faces critics.

January 4, 2012

Concerns About Austria´s Finance

Due to missing infrastructure projects, Austria loses € 28bn year by year. The President of the Audit Court, Josef Moser, regards the situation of Austria´s finance as dramatic.

November 7, 2011

Moser Demands Changes in Debt Policy

Josef Moser, President of the Audit Court warns urgent structural reforms of the policy. There is no all-clear; the situation is "ominous".

May 3, 2011

Significant Savings Potential by the Administration

Efficiency potential in public expenditure of over € 500 million. Felderer: "Significant savings potential”.

March 11, 2011

Skylink: Judicial Investigations are Presently being Conducted

The final report of the Audit Court on the Vienna International Airport Skylink project has been submitted. Criticism is devastating. Criminal investigations are starting.

February 1, 2011

Income Report: Workers' Wages Fell in Real Terms

In its income report, the Audit Court presents the evolution of the income of the Austrians. Increasing differences can be identified.

December 24, 2010

Vienna Airport Board Sees no Fault of Their Own

The controversial directors of Flughafen Wien (Vienna International Airport) defend themselves against public criticism of the construction project "Skylink".

December 5, 2010

Vienna International Airport: Decisions on Personnel are Postponed

The previously rumored change of leadership at Vienna International Airport is not taking place yet. There is time until mid-December for the board, highly criticized because of Skylink.

November 26, 2010

Audit Court: Capital Increase for Vienna Airport

The Audit Court criticizes the Board again and advises a capital increase. The personal consequences may be tougher than expected yet.

November 24, 2010

Audit Court: Massive Criticism of Vienna International Airport

The Court expects significantly higher costs for Skylink than the airport itself. There are personal consequences.

November 19, 2010

Austerity Package: Resistance from the Federal Provinces

While cries for savings are getting louder in the provinces, declarations of both consensus and objections come from the provincial capital cities

November 8, 2010

Risk of Default of Federal Investments for 330 Million Euro

The State bought high-risk securities in 2007 and 2008. These show a high risk of default since the financial crisis. The State wants to get rid of these securities by next year.

October 29, 2010

Skylink: Board Changes at the Airport After Vienna Election

At Vienna Airport, the chairman of the supervisory board, Cristoph Herbst, is being talked about as successor to Ernest Gabmann(ÖVP). The Audit Court’s report on Skylink points to serious deficiencies.

October 7, 2010

ÖIAG: ÖVP vs. SPÖ

Schieder and Rudas demand dissolution of the state holding ÖIAG, Finance Minister Pröll, on the other hand, wants to “strengthen” it.

September 17, 2010
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