April 19. 2024. 8:41

The Daily

Read the World Today

Majority of Austrians favour wealth tax: study

Seven out of ten Austrians believe income and wealth are unfairly distributed, with two-thirds of the population in favour of a wealth tax, according to the results of a SORA study on Tuesday which the Momentum Institute commissioned.

Three-quarters of people think that the political system in Austria does not work, according to a SORA study. Two-thirds of Austrians are in favour of introducing a wealth tax. An increase in taxes on corporate profits is also desired by 55% of the people.

This survey is intended to draw attention to “one of the most relevant problems of our time, the widening gap between rich and poor,” said Momentum Institute’s Business Administration Professor Leonhard Dobusch at the study presentation on Tuesday, APA reported.

Seven out of ten Austrians think that income and wealth are unfairly distributed. According to Dobusch, it is striking that this attitude is shared by all classes. 67% of the “top class”, meaning the 10% with the highest income, find the distribution of wealth unfair and 58% of the “richest 10 per cent” find the distribution of income unfair.

The survey also asked about the assessment of concrete political measures. A clear majority is in favour of lowering the tax on food and for tax cuts for employees.

“More and more people are working harder and harder and still cannot afford to live. This has to change urgently,” said the manager of the social democrat SPÖ, Christian Deutsch, in a press statement, speaking out in favour of higher taxation of wealth.

In contrast, the industry regards new taxes as “anti-growth and counterproductive.”

“The introduction of a wealth tax would directly affect the Austrian middle class. A carpenter with 50 employees would be just as affected as, for example, pensioners who have worked hard to build their own home,” said the Federation of Austrian Industries (IV).

(Chiara Swaton | EURACTIV.de)