Arab Today, arab today austrias finance minister resigns in tax row
Last Updated : GMT 10:55:37
Arab Today, arab today
Arab Today, arab today

Austria's finance minister resigns in tax row

Arab Today, arab today

Arab Today, arab today Austria's finance minister resigns in tax row

Austrian Vice Chancellor and Finance Minister Michael Spindelegger
Vienna - AFP

Austria's finance minister resigned on Tuesday after eight months in the role, the casualty of a bitter dispute over tax reform in a country seen as a model of EU fiscal reform.
"Those who say that we need tax reform now can only do that with new debt," said Michael Spindelegger, who has also stepped down as the country's vice chancellor and head of the center-right OeVP party.
His abrupt resignation comes amid a fierce row in the European Union over government belt tightening, which has plunged France's government into crisis this week.
Spindelegger's resignation also calls into question the future of Austria's ruling coalition of OeVP and the center-left Social Democrats, which has been beset by divisions over plans to overhal the tax system.
The Social Democrats want to introduce taxes on inheritance and a "millionaires tax" on the super rich -- an idea Spindelegger rejected as a "drop in the ocean" on Tuesday.
Social Democrat Chancellor Werner Faymann said he expected the coalition to make it to the next national elections in 2018, despite a growing challenge from the far right.
Austria has the lowest unemployment rate in the EU -- five percent in June according to EU statistics -- and a low public deficit of 1.5 percent of gross domestic product (GDP) last year.
But its public finances are in bad shape, with public debt expected to hit nearly 80 percent of GDP this year, up from 74.5 percent at the end of 2013.
Vienna brought in an austerity plan to strip out 28 billion euros ($37 billion) two years ago with the aim of balancing its books by 2016.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today austrias finance minister resigns in tax row Arab Today, arab today austrias finance minister resigns in tax row

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today austrias finance minister resigns in tax row Arab Today, arab today austrias finance minister resigns in tax row

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday