Fenninger: Austria is the country of heirs, not of performance
Vienna (OTS) – “Austria is the country of heirs, not of performance
“says Erich Fenninger, Director of Volkshilfe Austria on the occasion of World Social Justice Day. Fenninger refers to the ECB’s recently published figures on wealth distribution. The richest 5% of households own 53.5% of the total net wealth in Austria, while the bottom half of the population owns just 3.5% of the wealth. With a share of almost 40 percent, inheritances are the largest driver of wealth differences between households and thus social inequality in Austria. “This non-performance income particularly benefits those who are already wealthy and men. Since 2008, the Republic has been missing out on up to 900 million euros every year because we forego the contribution of the richest heirs. Austria is one of the richest countries in the European Union, but also the country with the second greatest wealth inequality
.” criticizes Fenninger.
It’s not just wealth that is inherited
But it’s not just wealth that is passed on. Educational paths, health and social participation are also inherited. Because in our education system the socio-economic background of the parents weighs so heavily and in the health system the wallet increasingly determines care, the parents’ wealth also determines the question of a successful life. “We know of many measures against wealth inequality in Austria. But The wealthy also use their resources to assert their interests. By donating to parties that oppose inheritance taxes, they pay lobbyists and research institutes to create sentiment against social justice
n. On the other hand, fewer and fewer people with low incomes are eligible to vote and have a say. It’s a vicious circle”.
Eliminate child poverty
“Despite the wealth that exists in Austria, one in five children is considered to be at risk of poverty or exclusion
. The federal government has not achieved its goal of halving poverty in Austria. According to the OECD, the consequences of child poverty cost us as a society up to 17.2 billion euros annually
. “Instead of combating the spiral of poverty, we are perpetuating social inequality. The crises of recent years, the COVID-19 pandemic and the inflation crisis, have made the social situation even worse. We have to finally break down this cycle of inequality,” said Fenninger.
For that Fenninger calls for property-related taxes and basic child support: “Because social justice only exists without child poverty”. The fact that there is also social approval for this is not only proven by the current one Photo campaign by Volkshilfe “Communities against child poverty“, which draws attention to social injustices and calls for a fair distribution of opportunities.
Questions & Contact:
Volkshilfe Austria
Erwin Berger, MAS
Head of Communications Volkshilfe Austria
+43 676 83 402 215
erwin.berger@volkshilfe.at