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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRIA
The right-wing nationalist Freedom Party of Austria (FPÖ) has published its manifesto ahead of the 29 September federal election. Titled "Fortress Austria, Fortress of Freedom", the manifesto promises that if elected the party will reduce the marginal rate of income tax for middle-earners from 43% to 40%, while corporation tax for small companies (not specified but believed to be with turnover below EUR450k) will be more than halved from 28% to 10%.
- Der Standardruns through the other measures, including "more favorable taxation of profits that are not withdrawn and are reinvested. A reduction in non-wage labor costs is also being considered,", a EUR5,000 one-off bonus for those completing apprenticeships, a 'tax bonus' for those continuing to work post-60, and more tax relief for those working overtime.
- The party has sought to assuage concerns of a rapid slew of tax cuts that could unnerve markets, confirming that many of the levy reductions would come in from end-2026 at the earliest.
- The FPÖ's policy platform will be looked at closely given that there is the realistic prospect that for the first time post-election it will emerge as the senior partner in gov't, propped up by the centre-right Austrian People's Party (ÖVP).
- Opinion polling shows the FPÖ polling in the high-20's, with the ÖVP and centre-left Social Democrats (SPÖ) vying for second place in the low-20's. The liberal pro-EU NEOs and environmentalist Greens are both polling ~10%, while the satirical 'Beer Party' could also enter the National Council should its consistent polling above the 4% nationwide threshold be reflected in the final result.
Chart 1. Federal Election Opinion Polling, % and 6-Poll Moving Average
Source: Maerket, INSA, Market-Lazarsfeld, IFDD, Unique Research, Spectra, OGM, MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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