Austria introduces €28 billion package in fight against inflation

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Austria’s government introduced a €28 billion ($29.3 billion) anti-inflation packet on Tuesday, as it seeks to shelter its population from raging price increases. Finance Minister Magnus Brunner said the bill, which includes measures set to last through 2026, would include immediate measures such as one-time payments, but also include structural changes, such as a tax policy that requires higher payments as inflation rises. At the moment, Austria is facing an inflation rate of 8%. Chancellor Karl Nehammer called it an “historic step” that should be a boon to the socially disadvantaged. The mea…

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