Austria leads the way with electricity price brake

The electricity price brake adopted by the Austrian government under Chancellor Karl Nehammer (ÖVP) is earning little applause. Economists warn that the black-green coalition in Vienna is pursuing too loose a spending policy to deal with the energy crisis. “The government is opening a door that can no longer be closed. The electricity bill cap will be followed by the gas price cap, as already envisioned by Nehammer. At the end comes then perhaps also still another cover for food and all rents. That will be expensive,” criticizes the liberal think tank Agenda Austria. “We burden future generations with financing our illusion of prosperity.”

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