Taxpayers Association of Europe (TAE) awards Taxpayer Award to Dr Magnus Brunner, Finance Minister of Austria
The European Taxpayer Award which will be awarded for the 18th time on February 1st, 2024 in Munich, goes to the Austrian Finance Minister, Dr Magnus Brunner.
Dr Magnus Brunner is honoured for his tireless commitment to the interests of the taxpayers in Austria. The tax reform in Austria carries a clear signature, relieves the burden on both private individuals as well as companies, and is a real model for other European countries on how one should act in times of crises.
Clever reforms and reliefs create incentives for investments and increased performance in Austria, states Taxpayer President Michael Jäger. In contrast to countries like Germany, in Austria it is worth performing, because Austria relies on relief instead of higher taxes, aiming to create better conditions for companies and, simply put, leaving people and companies “more money in their pockets“. The core of Brunner’s relief policy is the historic abolition of “cold progression“, something that had been discussed in Austria for decades. This “creeping tax increase” was completely abolished under Brunner on January 1st, 2023. By 2026, Austrians will save an estimated total of more than 20 billion Euro. At the same time, measures were taken to strengthen the economic location, such as reducing corporate tax and introducing a research bonus. This bonus, introduced by the Austrian government in 2022, has already led to first successes: Last year 2,625 companies applied to receive the research bonus for 9,328 projects. In total, the funding volume applied for in 2023 was 1.2 billion Euro, around 80 percent of which was applied for by small and medium-sized companies (SMEs). This funding therefore creates the opportunity, in particular for SMEs, to invest more in research and development (R&D). Austria is thus demonstrating the way to sustainably securing the location in the EU without favouring just a few companies. Austria spends government money on investments rather than for consumption purposes. This is government spending which ultimately will be largely self-financed through the success of companies, according to the Taxpayers Association.
The award ceremony will take place on February 1st, 2024, from 5:30 p.m. to 8:30 p.m. at the Hofbräukeller, Innere Wiener Straße 19, 81667 Munich.
The welcome speech will be given by Michael Jäger, TAE President. The laudatory speech will be given by MdL Eric Beißwenger, State Minister for European Affairs and International Affairs in Bavaria. TAE Honorary President and President of the Bavarian Taxpayers Association, Rolf von Hohenhau, will deliver the closing remarks.
Download of the Press Release as Pdf:
Rudolf G. Maier, Press Spokesperson
Munich, January 25th, 2024