Austrian Industry: „Growth Instead of Redistribution“
After the Austrian Chamber of Labor claimed he Federation of Austrian Industry underlines that Austria has the highest redistribution quota among OECD members.
According to Christoph Neumayer at IV (Federation of Austrian Industries), there is no leeway for further taxes anymore. Among OECD members, Austria is the most redistributive country, Neumayer says. Regarding the tax burden, Austria ranks third in the Eurozone.
„Even more redistribution cannot be a priority of the Austrian economic policy.“ the general secretary of IV said. Growth should be promoted through structural reforms instead. Neumayer refers to recent statements of the Austrian Chamber of Labor.
„The key for keeping our prosperity is not more redistribution, but more productivity.“ Neumayer argues. „Austerity and growth are no antagonisms. Smart austerity measures enable Austria to achieve more economic growth. Sustainable reforms should secure that tax proceeds are not wasted for inefficient projects, but for growth-supporting areas like education, research and innovation.“
The call for new property taxes is not comprehensive, he asserts. The property tax quota of 1.9% would be already above the EU average, IV´s general secretary emphasizes. Any further tax increase would damage the Austrian business location, Neumayer concludes.