Despite a rising budget deficit, and spiralling state debt, Austria’s Finance Minister Josef Pröll has, nevertheless, firmly ruled out the idea of introducing new taxes.
While advocating the introduction of an international tax levied on financial transactions, Finance Minister Pröll has once again rejected the idea of either raising existing taxes at home, or introducing new taxes, maintaining that to do so at the current time would merely serve to deepen the crisis.
Pröll has also rejected a proposal put forward by the Austrian Federation of Trade Unions (ÖGB) to introduce a stock market sales tax, emphasising that to do so would give out a false and fatal signal.
Instead, the Finance Minister is pinning his hopes on administration reform, calling for a display of solidarity from the country’s provinces, and urging them to reduce their spending and become more accountable.
Pröll has also recently announced his intention to cancel the government’s EUR5m advertising campaign this autumn, in order to provide further support measures for the country’s flood victims.
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