- Infowars - http://www.infowars.com -
Austrians face austerity package and tax hikes
Posted By kurtnimmo On February 10, 2012 @ 8:51 am In Global Crisis,Tile | Comments Disabled
February 10, 2012
Austria is planning to introduce budget cuts and higher taxes totalling 27 billion euros (36 billion dollars) over the next five years, in a package that was to be decided by the cabinet on Friday.
The austerity measures came after rating agency Standard & Poor’s stripped Austria of its top ranking last month and the government responded by vowing to reclaim its AAA status.
Pensioners and public servants are to bear a large part of the savings, through lower or deferred pay raises, according to statements by politicians and media reports.
Article printed from Infowars: http://www.infowars.com
URL to article: http://www.infowars.com/austrians-face-austerity-package-and-tax-hikes/
Copyright © 2013 Infowars. All rights reserved.