Austria Doubles Investment Premium to Boost Economy
The Austrian National Council has doubled the investment premium, temporarily hiking the contribution for ecological modernization to 22 percent and other investments to 20 percent. This move, supported by most parties, aims to boost the economy and encourage modernization. However, the Greens raised concerns about potential cuts to climate measures.
NEOS' Michael Bernhard revealed that the increased premium was necessary due to depleted funds upon takeover. Finance State Secretary Barbara Eibinger-Miedl (ÖVP) hailed the measure as a crucial economic boost. The FPÖ, whose original proposal it was, voted in favor, with MP Arnold Schiefer reminding of their initial idea.
The Greens opposed the measure, with budget spokesman Jakob Schwarz deeming it 'not unreasonable'. They criticized the lack of counter-financing and feared cuts to climate measures. SPÖ finance spokesman Jan Krainer understood the support for larger measures but cited budgetary constraints.
The increased contributions, applying to investments and acquisitions between November 1, 2022 and December 31, 2026, are set to stimulate the stock market. Meanwhile, Germany's current investment promotion programs, such as the steuerliches Investitionssofortprogramm and EENergy Call, continue to offer funding opportunities.
