AK Schnetzer: “Austria has the second highest concentration of wealth in the Eurozone!”
Vienna (OTS) – Data published by the European Central Bank (ECB) on Monday once again shows the extreme concentration of wealth in Austria. The wealth share of the richest 5 percent is therefore around 53 percent, which is significantly higher than the value last published by the Austrian National Bank (OeNB). “Of twenty countries in the Eurozone, Austria has the second highest concentration of wealth. “This endangers social cohesion, equal opportunities and ultimately democracy,” says AK expert Matthias Schnetzer, concerned.
In view of the new data, the economist reiterates the Chamber of Labor’s demand for a fair contribution of millions in assets to finance the welfare state. “A millionaire tax would bring in around 5 billion euros annually, which could be used for the urgently needed expansion of social services or to reduce the tax burden on work,” said Schnetzer.
Questions & Contact:
Vienna Chamber of Labor
Katharina Nagele
(+43-1) 501 65 12678
katharina.nagele@akwien.at
