Hanke should be it

SPÖ commits itself: city councillor as finance minister

(Bild: Zwefo)

For a long time, the SPÖ did not reveal its cards. Now it has leaked out who will head the finance department in future. As the "Krone" found out, it is no stranger - and a close confidant of Vienna's mayor Michael Ludwig. 

Ludwig had not declared himself for a long time, but now it is clear: Peter Hanke is to be officially appointed Finance Minister on Friday at the suggestion of Andreas Babler and with the approval of the Mayor of Vienna, as the "Krone" has learned.

Experienced head of Vienna's finance department
The experienced Vienna City Councillor for Finance is seen as the only logical choice in view of the ongoing threat of EU deficit proceedings and the need to negotiate new deficit rules for the EU at Ecofin level. There had recently been a fierce tug-of-war within the SPÖ over the powerful post of Finance Minister.

Andreas Babler and Michael Ludwig did not always see eye to eye. But now they seem to have reached an agreement on one of the most important appointments.(Bild: APA/FLORIAN WIESER)

Andreas Babler had wanted to send his confidante Michaela Schmidt into the race; like Babler, the Chamber of Labor employee comes from the left wing, but has no government experience. For the pragmatic wing around the Viennese party, former ORF boss Alexander Wrabetz had been named, who is not exactly a friend of Babler.

Long-standing part of the Ludwig cabinet
Now Peter Hanke, who had long remained in the background in the discussion, is to step forward. Hanke was Managing Director of Wien Holding before becoming City Councillor for Finance and is regarded as an experienced manager and pragmatist. The passionate runner and tennis player has been part of Michael Ludwig's cabinet since 2018. 

He is also regarded as an assertive economist who is not afraid to break up old structures. He recently announced that he wanted to make up to 500 million euros in Vienna City Hall itself with efficiency measures in the administrative apparatus. Although Hanke has been able to improve the difficult financial situation of the federal capital in recent years, he has again announced a higher deficit for 2025.