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Austria unveils €2 billion relief package to fight rising cost of living

There will be changes to the commuter allowance and increasing public transport investments, but the package has also been criticized.

This is the second relief package announced in less than 30 days by Austrian authorities.

The country's National Council approved late last month one-off payments to ease the current cost of living crisis for specific households in the country.

Almost every Austrian who earns no more than €5,670 per month will receive a voucher for €150 euros to cushion the increased energy bill. Low-income people should get €300 after the €1.7 billion expense was approved.This is the second relief package announced in less than 30 days by Austrian authorities.

The country's National Council approved late last month one-off payments to ease the current cost of living crisis for specific households in the country.

Almost every Austrian who earns no more than €5,670 per month will receive a voucher for €150 euros to cushion the increased energy bill. Low-income people should get €300 after the €1.7 billion expense was approved.ncreases in Austria and Europe in general, governments scramble to halt inflation and galloping energy prices. Austria this weekend unveiled a package with some €2 billion promised as a relief for citizens.

The primary measure is a reduction in taxes on natural gas and electricity by the end of June 2023, which is expected to cost €900 million and should cut tax by 90 per cent.

Additionally, there will be a 50 per cent increase in the commuter allowance and an increase in the "commuter euro", which reduces income tax levies by €2 per kilometre distance between the place of residence and workplace. These should cost €400 million.

 The package includes a €150 million investment in public transport to increase offers and lower prices. However, the government hasn't given any specific details on these proposals.

Some €120 million will be spent in helping self-employed, small and medium-sized companies with high fuel costs switch to more sustainable energy sources. Finally, a further €250 million is set to be invested in wind and solar power generation.
 

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