A good day for trade and crafts”

A good day for trade and crafts”

Manfred Denk, chairman of the federal trade and craft sector in the Austrian Chamber of Commerce (WKÖ), speaks of a “good day for trade and craft”. The reason for joy is the measures that the government announced in its meeting to stimulate the economy. As part of the government meeting, it was announced that the allowance for equipment investments by companies would be doubled. “The higher investment allowance addresses a demand from the federal sector and an existential concern for trade and craft,” says Denk.

The economic engine must gain momentum

What is crucial for trade and crafts is that the economic engine of construction gets going. More than half of the division's sales depend on the construction sector and the downstream economic sectors. "It is high time for more optimism in Austria. Any economic stimulus is welcome to improve the mood," Denk continued. “The tax allowance is an important instrument to increase the willingness to invest.” The announcement that thresholds will be anchored in permanent law is an important measure, especially for SMEs that operate in the regional environment.

An important concern of the division is also an efficient fight against inflation: stable, predictable and lower energy prices would best prevent inflation from becoming established. Denk: "There are also very energy-intensive sectors in trade and crafts. For these companies, predictable energy prices and low network costs are essential in order to have planning security and to be able to look to the future."

The focus on measures to reduce bureaucracy is also a long-overdue signal that this brake block should now be tackled decisively. “This will give companies more freedom to concentrate more on their core business again: This is also an economic stimulus that doesn’t cost anything,” emphasizes Denk.