Union with 10-Point Plan Against Economic Crisis

The union's plan is primarily based on public investments, which are to be financed through "fair tax policy". The plan, which has been in existence for about a year and was recently revised, was presented by the ÖGB before the press conference of the Federation of Austrian Industries (IV), which wants to present its own necessary measures.

Union Calls for Investment Package to Combat Economic Crisis

A key element of the ÖGB's 10-point plan is public sector investment: funds are needed for the social sector, infrastructure development and climate protection. This would secure jobs and strengthen Austria as a business location, the ÖGB noted. Angela Pfister, chief economist of the ÖGB, estimated the necessary funds at around 10 billion euros in an interview with the APA. Labour market measures would initially cost 100 million euros and total up to 1 billion euros.

Union's Plan: Affordable Housing Loans and Investments in Renewable Energy

Furthermore, one billion euros should be spent exclusively on housing construction each year. There is also a need for a bank that provides affordable loans for housing construction. Plans for a housing investment bank already existed. This could have provided affordable loans through EU funds. However, the project failed due to the required state guarantee, which was rejected. The union also calls for a clear strategy for industry and climate protection. Short-time work and job foundations are given priority here. Simpler subsidies should also socially cushion climate change. The increasing energy consumption must be met with investments in renewable energy and a stable network infrastructure. Only in this way can supply security and compliance with climate targets be guaranteed, the ÖGB further notes.

Union Advocates for Promotion of Public Transport

According to the trade unionists, substantial investment should also be made in the expansion of public transport. The federal government should value the shift of freight traffic to rail as much as cheaper tickets. Small stops and stations should also be maintained. The trade union would counter the shortage of skilled workers, which is also lamented by the industry, with further training programs and better working conditions. This would require sufficient money for the AMS as well as a job guarantee until a new job is found. The shortage of staff in the health and care sector could be remedied, in the opinion of the ÖGB members, through investments in better working conditions and fair pay.

Trade Union Calls for More Money for Municipalities

But the municipalities should not be forgotten when distributing the funds: "Austria's municipalities need to receive more financial resources in order to be able to carry out necessary investments in schools, children's education places and care facilities," is the next demand of the ÖGB. Social and ecological criteria should play a larger role in the awarding of state contracts. Regional companies and businesses that work fairly and environmentally friendly should be preferred. By adjusting the threshold values, more contracts could be awarded to regional providers. "The point here, for example, is that numerous trucks do not have to cover unnecessarily long distances," Pfister noted.

Trade Union Calls for Taxation of Large Fortunes

Whereas the trade union sticks to the previous concept for the counter-financing of the public funds needed for this: Because this investment package is to be financed by a stronger taxation of large fortunes and profits. There is room for manoeuvre in the truck toll, which could bring in up to 1 billion euros. A bank levy should bring in a further 850 million euros. The economist sees a scope of 400 million euros to 1 billion euros in the reintroduction of the inheritance tax. The reversal of the reduction in corporation tax would bring in another billion. A wealth tax would only be effective in the medium term, but could relieve the budget by up to 5 billion euros, according to the economist.

(APA/Red)

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