Chancellor Faymann promised to do everything to secure employment. The stimulus package agreed upon by the government will last for three years and mobilise about €1.5 billion for e.g. childcare facility, tunnel and flooding protection and housing.
Translated from the German
"In a country like Austria, that prides itself on its high level of employment and economic output, we take decisive and direct action to boost the economy", chancellor Faymann said.
The money will be taken from reserves of the Family Compensation Fund, the BIG (Federal Real Estate Company) or the ERP fund as well as from additional income such as income from frequency auctions. This money shall be invested in housing, the expansion of childcare facilities, care homes, tunnel safety, thermal insulation and the flood protection system.
With the additional €276 million in funding for housing, over 14,000 new flats will be created. "The whole package of €1.5 billion shows that the state does not withdraw in a difficult situation, but that we do everything possible to secure employment. Unemployment is not only a tragedy for the individual, but also devastating for the budget. Ecconomic experts estimate that like this we can secure around 60,000 jobs in Austria", said Faymann.
Full press release (in German)
© Bundeskanzleramt
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