Through the year-2000 tax reform, the tax burden on private households and enterprises will be reduced by a total of ATS 32.5 billion by 2003. The effects of the present reform are more significant than those of the 1989 and 1994 tax reforms. The changes of the wage and income tax-rate table...

Cooperation between the federal, state and local governments is emerging as a central theme of Austrian fiscal policy. It derives its legal basis from the consulting mechanism and an intra-Austrian stability pact to be finalized by the end of 1998. State and local governments have agreed to...

This year, the Austrian Parliament has for the first time approved draft budgets for two successive calendar years. Fiscal policy is aimed at trimming the Federal deficit to 2.7 percent of GDP by 1997. Apart from major public spending cuts, which account for about two-thirds of the deficit...