The Austrian government recently presented a three-pillared plan for economic revitalization on 29 April. Firstly, taxes will be lowered for employees, especially in crisis-essential sectors. “That is a question of social justice but, in times like these, it is also necessary to stimulate domestic consumption,” said Kurz. Secondly, businesses will be subjected to fewer regulations and taxes in future. “Companies, banks and government institutions are faced with a unique situation. It is, therefore, particularly important to work together quickly and without red tape,” Schramböck noted.
Finally, the government will carry out an “investments offensive” focused on regionalization, further boosting Austria’s digitalization and climate change, an area where the government has pioneering goals that include being carbon neutral by 2040 and for all electricity to come from renewables by 2030. From lockdown to economic restart, Austria has taken “rapid and targeted measures,” summarized Schramböck, stressing that the government will continue to “do everything we can to avoid jeopardizing our positive trend.”
Sebastian Kurz, Chancellor of Austria, highlights Austria’s productive business environment, its tax reforms and his achievements after one year in office.
Dr. Margarete Schramböck, Federal Minister for Digital and Economic Affairs of the Republic of Austria, shares her goals of reducing bureaucracy and promoting digitalization
I would like to thank Country Reports for the kind collaboration. It was my pleasure to present some vital reforms that will help us secure Austria’s competitive business environment. Austria is a country with dense cultural, economic and social ties reaching out to both Western Europe and CEE. Therefore, it is our goal to further strengthen our position as a bridge builder between East and West through the initiatives put forward by this government.
It was a great pleasure working with Country Reports on “Austria: Europe’s Center of Opportunity”. Austria is a hidden treasure in the financial field. So I am grateful for having had the chance to shed light on it and share our qualities with the global Newsweek community.
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