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Budget

Austria's Double Budget 2018/2019 - Cautious Optimism

Finance Minister Hartwig Löger (ÖVP) presented his first budget. Austria's new federal government wants to earn more than it spends. The double budget for 2018 and 2019 should herald a new era. The Austrian state has been spending more than it takes for 65 years and this is to be reversed for the first time in 2019. Debt policy is to be ended. A budget surplus of 541 million euros is to be achieved and thus a turning point in budget policy. Most money should be spent on pensions, least on health.

March 22, 2018

Austrian Government Presents Double Budget 2018/19: EU Requirements Are Met - 2019 Balanced Budget

The new Austrian government is planning a zero deficit for next year, Chancellor Sebastian Kurz (ÖVP) and Vice-Chancellor Heinz-Christian Strache (FPÖ) have announced. The planned reduction in corporation tax could be of interest to foreign investors and companies.

February 28, 2018

Austrian Federal President Heinz Fischer Signs Hypo Special Act into Law

After intensive testing, together with the former President of the Constitutional Court and current adviser to the President, Prof. Dr. Ludwig Adamovich, Federal President Heinz Fischer has decided to carry out the notarization of the adopted bill and thus clear the way for review by the Constitutional Court.

July 31, 2014

IMF Puts Pressure on Austria

The IMF shows itself content with the Austrian post-crisis policies. But now, Austria has to reduce new indebtedness.

September 7, 2011

Austrian Tobacco Industry Fears Cigarette Smuggling

According to the presently Japanese Austria Tabak, 20% of cigarettes are already smuggled. The tobacco tax is expected to increase this trend even more.

January 10, 2011

The Budget is Finally Set

After weeks of discussions about the 2011Austrian Federal Budget, the final details were announced today. There are very few amendments to the original project.

November 30, 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

Bank Boss Confirms: Bank Tax will be Passed on to Customers

Massive criticism of the federal government is also coming now from the boss of Raiffeisen Zentralbank (RZB). Bank customers will have to bear both the bank tax and the securities tax.

November 8, 2010

Bank Tax: Constitutional Concerns

Banks are to contribute a fixed tax amount based on the values given for 2010 for three years. Constitutional jurists consider this modus operandi as "highly questionable".

November 8, 2010

Vienna: Negotiations Between the SPÖ and the Greens Almost Concluded

The last major points are budget issues. Both sides are however optimistic of reaching an agreement.

November 5, 2010

Bank Tax: Only 185 Million Remain for the Federation

In negotiations with the provinces, the federal government surprisingly yields to pressures: proceeds from the bank tax will be divided.

October 29, 2010

Tax on Securities’ Profits: Financial Industry in a Rage

The tax is targeted at the middle class, but it means especially an administrative burden and creates competitive disadvantages, according to the industry.

October 28, 2010

EU Funds to Finance Brenner Tunnel until 2015

The European Commission has extended its partial financing commitment for the Brenner tunnel. However, appropriate measures must be taken soon. Deliberations are still underway at present.

October 28, 2010

Bank Tax: Demands for Time Limit Becoming Louder

Financial politicians and banking representatives already argue before approval of the draft law, if the bank tax to be introduced in 2011 is going to have a time limit.

October 27, 2010

New Budget: Details and Reactions

The entire tax package will bring additional revenues for around 1.2 billion euro. There are further saving measures for 1.6 billion euro. Reactions from the economic actors are ambivalent.

October 25, 2010

New Budget, New Taxes

The budget includes a new austerity package, which consists essentially of taxes on mineral oil, tobacco and banks.

October 25, 2010

Increase in Mineral Oil Tax likely

Economy Minister Mitterlehner speaks of a possible moderate increase.

October 21, 2010

Criticism of Austria's Allocation of Subsidies

Both the volume and the organization of the allocation of subsidies are susceptible of improvement, experts say.

October 21, 2010

IMF Considers Recovery as "Moderate and Uneasy"

Growth in Europe seems to be normalizing slowly. Dynamism is missing though, and many vulnerabilities are as yet unresolved.

October 20, 2010

Austrian federal government - Massive fall in revenue

The federal government is missing €4b ($4.9b) in revenue, in the first four months of this year. In total a decrease of €6.1b ($7.5b) was registered.

June 29, 2010
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