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Austrian chancellor calls for rich tax

17 October 2012   (0 Comments)
Posted by: SAIT Technical
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By AFP (News24)

Executive summary (SAIT Technical)

Werner Faymann, chancellor of Austria since 2008, has called for raising taxes on the wealthy and the return of an inheritance tax during his campaign for re-election next year. Faymann said that such measures would improve "social justice” and curb the "excesses of capitalism”.

Full article

Vienna – Austria's centre-left Chancellor Werner Faymann kicked off on Saturday his campaign for re-election next year with a call for higher taxes and a commitment to the crisis-hit European Union.

Speaking at a party conference of his Social Democrats (SPOe), Faymann said he wanted to raise taxes on the wealthy and bring back an inheritance tax in order to improve "social justice” and curb the "excesses of capitalism”.

"In order to increase the number of all-day school places...to 100%, we need €500m ($650m) per year,” he said.

"This is exactly the amount that an inheritance tax... would generate.”

Faymann, 52, chancellor of the wealthy EU and eurozone country since late 2008, is currently in a "grand coalition” with the centre-right Austrian People's Party (OeVP) led by Michael Spindelegger, who rejects higher taxes.

The next parliamentary elections in eight-million-strong Austria, which has the lowest rate of unemployment in the EU, are due in October 2013.

With both parties likely to face a strong challenge in the election from the far-right, eurosceptic Freedom Party (FPOe) under Heinz-Christian Strache, Faymann also said he was committed to the EU.

"We must stay together,” he said. "Taking us out of the EU would lead us to isolation.”


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