"Krone" guest commentary

A smart choice

Christian Baha is a stock market expert and founded Austria's first stock exchange terminal in 1993, which supplies data in real time. In 1996, he established the world's first hedge fund for private investors. Baha has always pursued the vision of making funds for wealthy individuals accessible to smaller investors.(Bild: Krone KREATIV/stock.adobe.com)

If we measure those in power by how prosperity has developed, then unfortunately the result is a resounding "not good enough". We have been at the bottom of the EU league since 2019. Inflation is too high, competitiveness too low. No wonder we are already experiencing the second year of recession in a row.

To prevent Austria from becoming "Österarm", a turbo program is needed for the job and business location. Thanks to the horrendous tax ratio of 43.6 percent, our employees have too little net from gross. Switzerland, which should serve as a role model for us, manages with 26.9 percent and makes it possible for the hard-working to build up a fortune.

Most recently, the FPÖ presented an economic program with a tax reduction that would make Austria attractive for companies: corporate income tax (KÖSt) is to be reduced to 20 percent, and even to ten percent for small businesses. Makes sense. Will the other parties also come up with something well-founded before September 29?

In Austria, 61 percent of all businesses are one-person companies. If you relieve tax on profits that are not withdrawn, you encourage investment. If you guarantee no new taxes and thus legal certainty for an entire government term, you create trust.

In this way, Austria can attract international companies that create new jobs. De facto, economic growth secures our prosperity. We voters should not forget this on election day in four weeks' time.